Geode Capital Management LLC Boosts Stock Holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Geode Capital Management LLC increased its position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 444.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 854,999 shares of the company’s stock after acquiring an additional 697,820 shares during the period. Geode Capital Management LLC’s holdings in Polestar Automotive Holding UK were worth $1,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado bought a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter worth $26,000. MetLife Investment Management LLC increased its holdings in Polestar Automotive Holding UK by 134.4% in the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock worth $26,000 after buying an additional 8,823 shares in the last quarter. Captrust Financial Advisors increased its holdings in Polestar Automotive Holding UK by 125.4% in the 3rd quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after buying an additional 25,930 shares in the last quarter. XTX Topco Ltd raised its position in Polestar Automotive Holding UK by 153.1% in the 2nd quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock worth $119,000 after buying an additional 91,139 shares during the last quarter. Finally, Scientech Research LLC bought a new position in Polestar Automotive Holding UK during the 2nd quarter valued at about $161,000. 1.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSNY. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th. Bank of America began coverage on shares of Polestar Automotive Holding UK in a research report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 target price for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Polestar Automotive Holding UK has a consensus rating of “Hold” and a consensus price target of $1.53.

Polestar Automotive Holding UK Trading Up 0.9 %

Shares of NASDAQ PSNY opened at $1.11 on Thursday. Polestar Automotive Holding UK PLC has a 12-month low of $0.61 and a 12-month high of $2.33. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -1.95 and a beta of 1.53. The firm has a 50 day moving average of $1.10 and a 200 day moving average of $1.13.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.