Sonic GP LLC Reduces Stock Holdings in REE Automotive Ltd. (NASDAQ:REE)

Sonic GP LLC cut its position in shares of REE Automotive Ltd. (NASDAQ:REE) by 54.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,576 shares of the company’s stock after selling 71,097 shares during the period. REE Automotive makes up 1.2% of Sonic GP LLC’s holdings, making the stock its 14th biggest holding. Sonic GP LLC owned 0.43% of REE Automotive worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of REE. Fulton Breakefield Broenniman LLC purchased a new position in REE Automotive during the fourth quarter worth about $457,000. Cruiser Capital Advisors LLC increased its holdings in REE Automotive by 21.6% in the 4th quarter. Cruiser Capital Advisors LLC now owns 152,557 shares of the company’s stock valued at $1,347,000 after purchasing an additional 27,057 shares during the last quarter. Balyasny Asset Management L.P. raised its position in REE Automotive by 111.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 452,444 shares of the company’s stock valued at $3,995,000 after purchasing an additional 238,013 shares during the period. Renaissance Technologies LLC lifted its stake in 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 in the last quarter. Finally, MYDA Advisors LLC purchased a new position in shares of REE Automotive during the fourth quarter worth $318,000. 12.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on REE. Alliance Global Partners restated a “buy” rating on shares of REE Automotive in a report on Friday. Roth Capital set a $1.00 target price on REE Automotive in a report on Friday. Finally, HC Wainwright downgraded REE Automotive from a “buy” rating to a “neutral” rating in a report on Friday.

REE Automotive Stock Performance

Shares of REE stock opened at $0.85 on Monday. The stock’s 50-day moving average is $3.14 and its two-hundred day moving average is $6.41. 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 1 year low of $0.81 and a 1 year high of $11.72. The firm has a market cap of $11.82 million, a price-to-earnings ratio of -0.09 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.