REE Automotive Ltd (NASDAQ:REE) traded down 6.6% during trading on Friday . The company traded as low as $4.89 and last traded at $4.96. 2,874 shares were traded during trading, a decline of 100% from the average session volume of 1,558,843 shares. The stock had previously closed at $5.31.
Separately, Cantor Fitzgerald started coverage on shares of REE Automotive in a research report on Friday. They issued an “overweight” rating and a $9.00 price target on the stock.
The business has a 50-day moving average of $4.50.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Two Sigma Investments LP bought a new position in REE Automotive in the 3rd quarter worth $171,000. Telemetry Investments L.L.C. bought a new stake in REE Automotive in the third quarter valued at about $313,000. Luxor Capital Group LP acquired a new position in REE Automotive in the third quarter valued at about $9,988,000. Morgan Stanley acquired a new position in shares of REE Automotive during the third quarter worth approximately $46,000. Finally, Invesco Ltd. acquired a new position in shares of REE Automotive during the third quarter worth approximately $3,068,000. Hedge funds and other institutional investors own 8.71% of the company’s stock.
REE Automotive Company Profile (NASDAQ:REE)
REE Automotive Ltd. is an automotive technology. REE Automotive Ltd., formerly known as 10X Capital Venture Acquisition Corp, is based in NEW YORK.
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