Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 953.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 246,553 shares of the company’s stock after purchasing an additional 223,150 shares during the period. Advisors Asset Management Inc.’s holdings in Polestar Automotive Holding UK were worth $424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Polestar Automotive Holding UK by 71.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 242,402 shares of the company’s stock worth $191,000 after purchasing an additional 101,066 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Polestar Automotive Holding UK in the second quarter worth $179,000. Scientech Research LLC purchased a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at $161,000. Marshall Wace LLP acquired a new stake in shares of Polestar Automotive Holding UK during the second quarter valued at $407,000. Finally, Public Sector Pension Investment Board purchased a new stake in Polestar Automotive Holding UK during the 2nd quarter worth about $193,000. Institutional investors and hedge funds own 1.02% of the company’s stock.

Polestar Automotive Holding UK Stock Down 0.9 %

Shares of PSNY opened at $1.09 on Friday. Polestar Automotive Holding UK PLC has a fifty-two week low of $0.61 and a fifty-two week high of $2.65. The company’s fifty day moving average is $1.35 and its two-hundred day moving average is $1.09. The firm has a market cap of $2.33 billion, a PE ratio of -1.91 and a beta of 1.54.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a report 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 boosted their price target on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a report on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $1.50 price target on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $1.58.

Polestar Automotive Holding UK Profile

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