MYDA Advisors LLC Buys Shares of 36,000 REE Automotive Ltd. (NASDAQ:REE)

MYDA Advisors LLC bought a new position in REE Automotive Ltd. (NASDAQ:REE) in the fourth quarter, Holdings Channel.com reports. The firm bought 36,000 shares of the company’s stock, valued at approximately $318,000.

A number of other hedge funds also recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in REE Automotive by 5.8% during the 4th quarter. Renaissance Technologies LLC now owns 69,577 shares of the company’s stock worth $614,000 after purchasing an additional 3,800 shares in the last quarter. Cruiser Capital Advisors LLC grew its stake in shares of REE Automotive by 21.6% during the fourth quarter. Cruiser Capital Advisors LLC now owns 152,557 shares of the company’s stock worth $1,347,000 after buying an additional 27,057 shares during the last quarter. Fulton Breakefield Broenniman LLC bought a new stake in shares of REE Automotive during the fourth quarter worth $457,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of REE Automotive during the fourth quarter worth $160,000. Finally, Virtu Financial LLC bought a new position in shares of REE Automotive in the 3rd quarter valued at $138,000. 12.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on REE shares. Alliance Global Partners began coverage on REE Automotive in a research report on Friday, April 11th. They set a “buy” rating and a $8.50 price objective on the stock. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of REE Automotive in a report on Wednesday, March 19th.

REE Automotive Price Performance

REE stock opened at $2.51 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.15 and a current ratio of 3.21. REE Automotive Ltd. has a 52-week low of $2.31 and a 52-week high of $11.72. The company has a market capitalization of $34.91 million, a P/E ratio of -0.28 and a beta of 3.18. The company has a fifty day moving average price of $4.91 and a 200-day moving average price of $7.08.

REE Automotive Profile

REE Automotive Ltd. operates as an automotive technology company in France, the United Kingdom, the United States, and internationally. The company offers REEcorner, a compact module that integrates critical vehicle drive components comprising as steering, braking, suspension, powertrain, and control between the chassis and the wheel; and REEplatform that allows for the addition of a modular and customizable top hat/cabin design based on customer specifications, without requiring modification to the platform.