Versor Investments LP Makes New Investment in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Versor Investments LP acquired a new stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 59,841 shares of the company’s stock, valued at approximately $47,000.

Several other hedge funds also recently made changes to their positions in PSNY. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Polestar Automotive Holding UK by 77.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock valued at $25,000 after acquiring an additional 13,624 shares during the last quarter. Principal Street Partners LLC acquired a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at $28,000. SG Americas Securities LLC acquired a new position in shares of Polestar Automotive Holding UK in the 2nd quarter valued at $32,000. DNB Asset Management AS purchased a new position in Polestar Automotive Holding UK in the 2nd quarter worth about $48,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Polestar Automotive Holding UK during the 2nd quarter worth about $50,000. Institutional investors and hedge funds own 1.02% of the company’s stock.

Polestar Automotive Holding UK Price Performance

Shares of Polestar Automotive Holding UK stock opened at $1.38 on Friday. The firm has a fifty day moving average price of $0.89 and a two-hundred day moving average price of $1.13. Polestar Automotive Holding UK PLC has a fifty-two week low of $0.61 and a fifty-two week high of $3.03.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. The firm had revenue of $534.12 million during the quarter. As a group, analysts expect that Polestar Automotive Holding UK PLC will post -0.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PSNY. Citigroup cut their price target on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a report on Thursday, May 16th. Piper Sandler reduced their target price on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday. Barclays lowered their price target on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a report on Wednesday, July 3rd. Sanford C. Bernstein upped their price target on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a research report on Friday, August 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $3.00 price objective on shares of Polestar Automotive Holding UK in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $1.60.

Polestar Automotive Holding UK Company Profile

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