Balyasny Asset Management L.P. Grows Stock Holdings in REE Automotive Ltd. (NASDAQ:REE)

Balyasny Asset Management L.P. lifted its position in REE Automotive Ltd. (NASDAQ:REE) by 111.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 452,444 shares of the company’s stock after buying an additional 238,013 shares during the period. Balyasny Asset Management L.P. owned approximately 3.25% of REE Automotive worth $3,995,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in REE Automotive in the fourth quarter valued at approximately $160,000. MYDA Advisors LLC purchased a new stake in shares of REE Automotive in the 4th quarter valued at $318,000. Fulton Breakefield Broenniman LLC acquired a new stake in shares of REE Automotive in the fourth quarter worth $457,000. Renaissance Technologies LLC raised its holdings in shares of REE Automotive by 5.8% during the fourth quarter. Renaissance Technologies LLC now owns 69,577 shares of the company’s stock worth $614,000 after purchasing an additional 3,800 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in REE Automotive by 40.9% during the fourth quarter. Bank of America Corp DE now owns 97,513 shares of the company’s stock valued at $861,000 after purchasing an additional 28,300 shares during the period. Institutional investors own 12.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on REE. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of REE Automotive in a research note on Wednesday, March 19th. Alliance Global Partners initiated coverage on REE Automotive in a research report on Friday, April 11th. They set a “buy” rating and a $8.50 price target for the company.

REE Automotive Stock Up 4.9 %

REE opened at $3.01 on Friday. The company has a fifty day moving average of $3.50 and a two-hundred day moving average of $6.61. 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 fifty-two week low of $2.31 and a fifty-two week high of $11.72. The stock has a market capitalization of $41.86 million, a price-to-earnings ratio of -0.33 and a beta of 3.15.

REE Automotive Company 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.