National Bank of Canada FI Acquires Shares of 11,500 REE Automotive Ltd. (NASDAQ:REE)


National Bank of Canada FI acquired a new stake in REE Automotive Ltd. (NASDAQ:REEGet Rating) in the 4th quarter, Holdings Channel reports. The fund acquired 11,500 shares of the company’s stock, valued at approximately $64,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Luxor Capital Group LP acquired a new stake in shares of REE Automotive during the third quarter worth about $9,988,000. IPG Investment Advisors LLC acquired a new stake in shares of REE Automotive during the third quarter worth about $102,000. First National Trust Co acquired a new stake in shares of REE Automotive during the third quarter worth about $45,000. Meitav Dash Investments Ltd. acquired a new stake in shares of REE Automotive during the third quarter worth about $1,308,000. Finally, M&G Investment Management Ltd. acquired a new stake in shares of REE Automotive during the fourth quarter worth about $50,209,000. Institutional investors own 14.95% of the company’s stock.

Several brokerages have recently weighed in on REE. Wells Fargo & Company assumed coverage on shares of REE Automotive in a research note on Friday, March 25th. They set an “underweight” rating and a $1.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of REE Automotive in a report on Friday, January 14th. They set an “overweight” rating and a $9.00 price target for the company. Morgan Stanley cut their price target on shares of REE Automotive from $5.00 to $2.00 and set an “underweight” rating for the company in a report on Monday, March 14th. Finally, Zacks Investment Research raised shares of REE Automotive from a “sell” rating to a “hold” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.75.

Shares of REE Automotive stock opened at $1.96 on Friday. REE Automotive Ltd. has a 12-month low of $1.75 and a 12-month high of $11.66. The company has a 50-day moving average of $2.57 and a two-hundred day moving average of $3.84.

REE Automotive (NASDAQ:REEGet Rating) last issued its earnings results on Thursday, March 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. As a group, sell-side analysts predict that REE Automotive Ltd. will post -0.5 earnings per share for the current year.

REE Automotive Profile (Get Rating)

REE Automotive Ltd. operates in the e-mobility business. The company develops REEcorner technology, which integrates vehicle drive components, including steering, braking, suspension, powertrain, and control into the arch of the wheel. The company also develops REEboard, a flat and modular EV chassis.

See Also

Want to see what other hedge funds are holding REE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for REE Automotive Ltd. (NASDAQ:REEGet Rating).

Institutional Ownership by Quarter for REE Automotive (NASDAQ:REE)

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