479,581 Shares in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 479,581 shares of the company’s stock, valued at approximately $504,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSNY. Geode Capital Management LLC grew its holdings in shares of Polestar Automotive Holding UK by 444.0% during the third quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock worth $1,471,000 after buying an additional 697,820 shares in the last quarter. Marshall Wace LLP acquired a new position in Polestar Automotive Holding UK during the 2nd quarter worth approximately $407,000. Tidal Investments LLC grew 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 acquiring an additional 205,890 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at approximately $266,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Polestar Automotive Holding UK by 31.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 319,508 shares of the company’s stock worth $550,000 after purchasing an additional 77,106 shares in the last quarter. Institutional investors and hedge funds own 1.02% of the company’s stock.

Polestar Automotive Holding UK Price Performance

Shares of PSNY opened at $1.09 on Friday. The company has a market cap of $2.33 billion, a PE ratio of -1.91 and a beta of 1.52. The firm has a 50-day moving average of $1.07 and a 200-day moving average of $1.15. Polestar Automotive Holding UK PLC has a one year low of $0.61 and a one year high of $2.17.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Friday, January 17th. Bank of America began coverage on Polestar Automotive Holding UK in a report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 price objective for the company. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, Polestar Automotive Holding UK has an average rating of “Hold” and a consensus target price of $1.53.

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.