Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Holdings Reduced by State Street Corp

State Street Corp decreased its position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,042,846 shares of the company’s stock after selling 69,299 shares during the quarter. State Street Corp’s holdings in Polestar Automotive Holding UK were worth $3,514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSNY. Captrust Financial Advisors boosted its holdings in shares of Polestar Automotive Holding UK by 125.4% in the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after buying an additional 25,930 shares during the period. MetLife Investment Management LLC grew its holdings in Polestar Automotive Holding UK by 134.4% during the third quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock valued at $26,000 after purchasing an additional 8,823 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Polestar Automotive Holding UK by 31.8% during the 3rd 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 during the last quarter. Advisors Asset Management Inc. grew its position in Polestar Automotive Holding UK by 953.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 246,553 shares of the company’s stock worth $424,000 after purchasing an additional 223,150 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Polestar Automotive Holding UK during the second quarter valued at approximately $179,000. 1.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler dropped their price objective on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.00 price target on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Bank of America began coverage on Polestar Automotive Holding UK in a research note on Thursday, December 5th. They issued a “neutral” rating and a $1.25 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 price target on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Polestar Automotive Holding UK currently has an average rating of “Hold” and an average target price of $1.53.

Polestar Automotive Holding UK Stock Down 3.6 %

Shares of PSNY stock opened at $1.07 on Tuesday. Polestar Automotive Holding UK PLC has a 12 month low of $0.61 and a 12 month high of $2.33. The company’s fifty day simple moving average is $1.13 and its 200-day simple moving average is $1.11. The firm has a market cap of $2.28 billion, a PE ratio of -1.88 and a beta 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.