Livforsakringsbolaget Skandia Omsesidigt Purchases New Stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) in the 4th quarter, Holdings Channel reports. The fund purchased 479,581 shares of the company’s stock, valued at approximately $504,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSNY. Tidal Investments LLC lifted its stake in shares of Polestar Automotive Holding UK by 78.3% during the 3rd quarter. Tidal Investments LLC now owns 468,741 shares of the company’s stock worth $806,000 after buying an additional 205,890 shares during the last quarter. Geode Capital Management LLC raised its holdings in Polestar Automotive Holding UK by 444.0% in the 3rd quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock valued at $1,471,000 after acquiring an additional 697,820 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Polestar Automotive Holding UK during the third quarter worth approximately $468,000. XTX Topco Ltd boosted its holdings in shares of Polestar Automotive Holding UK by 91.5% during the third quarter. XTX Topco Ltd now owns 288,564 shares of the company’s stock worth $496,000 after acquiring an additional 137,907 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of Polestar Automotive Holding UK by 125.4% in the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock valued at $80,000 after purchasing an additional 25,930 shares during the last quarter. 1.02% of the stock is owned by institutional investors.

Polestar Automotive Holding UK Price Performance

Shares of NASDAQ:PSNY opened at $1.09 on Friday. The business’s 50 day simple moving average is $1.07 and its 200 day simple moving average is $1.15. Polestar Automotive Holding UK PLC has a 1 year low of $0.61 and a 1 year high of $2.17. The company has a market capitalization of $2.33 billion, a P/E ratio of -1.91 and a beta of 1.52.

Analysts Set New Price Targets

Several research firms recently weighed in on PSNY. Cantor Fitzgerald reissued a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Friday, January 17th. Bank of America assumed coverage on Polestar Automotive Holding UK in a report on Thursday, December 5th. They set a “neutral” rating and a $1.25 target price for the company. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, Polestar Automotive Holding UK has a consensus rating of “Hold” and a consensus price target of $1.53.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.