United Asset Strategies Inc. Trims Position in REE Automotive Ltd. (NASDAQ:REE)

United Asset Strategies Inc. cut its position in REE Automotive Ltd. (NASDAQ:REE) by 96.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,333 shares of the company’s stock after selling 386,667 shares during the period. United Asset Strategies Inc.’s holdings in REE Automotive were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of REE. Nordwand Advisors LLC grew its stake in REE Automotive by 2.2% during the third quarter. Nordwand Advisors LLC now owns 183,580 shares of the company’s stock valued at $27,000 after acquiring an additional 4,000 shares in the last quarter. Two Sigma Investments LP grew its stake in REE Automotive by 61.9% during the first quarter. Two Sigma Investments LP now owns 93,543 shares of the company’s stock valued at $30,000 after acquiring an additional 35,754 shares in the last quarter. UBS Group AG purchased a new position in REE Automotive during the first quarter valued at $36,000. Susquehanna International Group LLP grew its stake in REE Automotive by 17.6% during the fourth quarter. Susquehanna International Group LLP now owns 154,125 shares of the company’s stock valued at $60,000 after acquiring an additional 23,063 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in REE Automotive during the first quarter valued at $79,000. 12.74% of the stock is owned by hedge funds and other institutional investors.

REE Automotive Stock Performance

REE stock opened at $4.08 on Thursday. REE Automotive Ltd. has a 52 week low of $2.30 and a 52 week high of $13.77. The company has a current ratio of 2.66, a quick ratio of 2.64 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $6.03 and a two-hundred day simple moving average of $5.10.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of REE Automotive in a research report on Thursday, March 28th.

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.