Swedbank AB Increases Position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Swedbank AB lifted its holdings in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,770,112 shares of the company’s stock after buying an additional 29,269 shares during the period. Swedbank AB owned approximately 0.55% of Polestar Automotive Holding UK worth $20,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PSNY. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Polestar Automotive Holding UK by 32.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,336 shares of the company’s stock worth $218,000 after acquiring an additional 34,827 shares during the period. Tidal Investments LLC raised its stake in shares of Polestar Automotive Holding UK by 118.4% during the 1st quarter. Tidal Investments LLC now owns 241,946 shares of the company’s stock worth $373,000 after buying an additional 131,167 shares in the last quarter. DNB Asset Management AS acquired a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter valued at approximately $48,000. AMF Tjanstepension AB boosted its stake in shares of Polestar Automotive Holding UK by 399.3% in the second quarter. AMF Tjanstepension AB now owns 21,971,866 shares of the company’s stock valued at $17,283,000 after buying an additional 17,571,426 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Polestar Automotive Holding UK during the second quarter worth $32,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Piper Sandler lowered their price target on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Sanford C. Bernstein lifted their price target on shares of 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 price target on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Finally, Barclays reduced their price objective on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $1.58.

Polestar Automotive Holding UK Price Performance

Polestar Automotive Holding UK stock opened at $1.26 on Thursday. The stock has a market capitalization of $2.69 billion, a P/E ratio of -2.21 and a beta of 1.48. Polestar Automotive Holding UK PLC has a 12-month low of $0.61 and a 12-month high of $2.86. The firm’s 50-day moving average is $1.32 and its two-hundred day moving average is $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its earnings results on Wednesday, August 14th. The company reported ($0.35) EPS for the quarter. The business had revenue of $534.12 million for the quarter. As a group, analysts forecast that Polestar Automotive Holding UK PLC will post -0.53 EPS for the current year.

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.