REE Automotive Ltd. (NASDAQ:REE) Shares Sold by Amundi

Amundi reduced its position in shares of REE Automotive Ltd. (NASDAQ:REE) by 65.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,842 shares of the company’s stock after selling 43,179 shares during the period. Amundi owned about 0.16% of REE Automotive worth $194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in REE. Fulton Breakefield Broenniman LLC acquired a new stake in shares of REE Automotive during the 4th quarter valued at approximately $457,000. Virtu Financial LLC acquired a new stake in shares of REE Automotive during the 3rd quarter valued at approximately $138,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in REE Automotive in the fourth quarter worth $160,000. 12.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of REE Automotive in a research report on Wednesday.

REE Automotive Price Performance

Shares of NASDAQ REE opened at $3.87 on Friday. REE Automotive Ltd. has a 1-year low of $2.91 and a 1-year high of $11.72. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.21 and a quick ratio of 3.15. The business’s fifty day moving average price is $7.45 and its two-hundred day moving average price is $7.42. The firm has a market capitalization of $53.82 million, a PE ratio of -0.42 and a beta of 2.94.

REE Automotive (NASDAQ:REE) last issued its earnings results on Tuesday, December 17th. The company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($0.27). On average, research analysts expect that REE Automotive Ltd. will post -5.06 EPS for the current year.

About REE Automotive

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.