Skandinaviska Enskilda Banken AB publ Takes Position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Skandinaviska Enskilda Banken AB publ purchased a new position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,678,156 shares of the company’s stock, valued at approximately $1,321,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSNY. Private Advisor Group LLC increased its holdings in Polestar Automotive Holding UK by 159.5% in the 4th quarter. Private Advisor Group LLC now owns 62,550 shares of the company’s stock worth $141,000 after acquiring an additional 38,450 shares in the last quarter. Jump Financial LLC purchased a new stake in Polestar Automotive Holding UK in the 4th quarter worth $242,000. Vanguard Personalized Indexing Management LLC increased its holdings in Polestar Automotive Holding UK by 136.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,344 shares of the company’s stock worth $55,000 after acquiring an additional 14,048 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new stake in Polestar Automotive Holding UK in the 4th quarter worth $226,000. Finally, Green Alpha Advisors LLC increased its holdings in Polestar Automotive Holding UK by 2.4% in the 1st quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock worth $430,000 after acquiring an additional 6,528 shares in the last quarter. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Polestar Automotive Holding UK Stock Up 2.0 %

NASDAQ PSNY opened at $1.55 on Tuesday. The firm’s 50-day moving average is $1.04 and its two-hundred day moving average is $1.12. Polestar Automotive Holding UK PLC has a 12 month low of $0.61 and a 12 month high of $2.94.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted 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. On average, equities analysts anticipate that Polestar Automotive Holding UK PLC will post -0.53 EPS for the current year.

Analysts Set New Price Targets

PSNY has been the subject of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a report on Monday. Sanford C. Bernstein lifted their target price on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a research note on Friday, August 30th. Barclays lowered their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 target price on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Finally, Piper Sandler lowered 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 research note on Wednesday, September 4th. Two 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.