Swedbank AB Acquires New Holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Swedbank AB purchased a new position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,740,843 shares of the company’s stock, valued at approximately $9,235,000. Swedbank AB owned about 0.55% of Polestar Automotive Holding UK as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PSNY. Principal Street Partners LLC acquired a new stake in Polestar Automotive Holding UK in the 4th quarter worth approximately $28,000. SG Americas Securities LLC acquired a new stake in shares of Polestar Automotive Holding UK in the second quarter worth $32,000. DNB Asset Management AS bought a new stake in shares of Polestar Automotive Holding UK during the 2nd quarter worth $48,000. Baader Bank Aktiengesellschaft acquired a new position in Polestar Automotive Holding UK during the 2nd quarter worth $50,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Polestar Automotive Holding UK by 136.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,344 shares of the company’s stock valued at $55,000 after acquiring an additional 14,048 shares during the period. Institutional investors own 1.02% of the company’s stock.

Polestar Automotive Holding UK Stock Performance

PSNY opened at $0.89 on Friday. The stock’s 50 day simple moving average is $0.79 and its 200-day simple moving average is $1.21. Polestar Automotive Holding UK PLC has a 1 year low of $0.61 and a 1 year high of $3.92.

Analysts Set New Price Targets

Several analysts recently weighed in on PSNY shares. Citigroup decreased their target price on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating for the company in a research note on Thursday, May 16th. 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 research report on Wednesday, July 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $1.77.

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.