Renaissance Technologies LLC Invests $266,000 in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Renaissance Technologies LLC bought a new stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 338,249 shares of the company’s stock, valued at approximately $266,000.

Other hedge funds also recently bought and sold shares of the company. Versor Investments LP bought a new position in shares of Polestar Automotive Holding UK in the second quarter worth about $47,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Polestar Automotive Holding UK by 77.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock valued at $25,000 after buying an additional 13,624 shares in the last quarter. Swedbank AB bought a new stake in shares of Polestar Automotive Holding UK during the second quarter valued at approximately $9,235,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Polestar Automotive Holding UK in the second quarter worth $50,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Polestar Automotive Holding UK during the second quarter worth $518,000. Institutional investors own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

PSNY has been the topic of a number of research reports. Sanford C. Bernstein boosted their price target 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. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th. Barclays lowered their target price 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, Piper Sandler reduced 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 report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $1.58.

Polestar Automotive Holding UK Stock Performance

NASDAQ:PSNY opened at $1.45 on Friday. The firm has a market capitalization of $3.10 billion, a PE ratio of -2.54 and a beta of 1.48. The stock’s fifty day moving average is $1.28 and its 200 day moving average is $1.13. Polestar Automotive Holding UK PLC has a fifty-two week low of $0.61 and a fifty-two week high of $2.90.

Polestar Automotive Holding UK (NASDAQ:PSNY) last announced its earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share for the quarter. The firm had revenue of $534.12 million for the quarter. Equities 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.