Bank of New York Mellon Corp Takes $37,000 Position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Bank of New York Mellon Corp purchased a new position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) during the fourth quarter, HoldingsChannel reports. The firm purchased 35,510 shares of the company’s stock, valued at approximately $37,000.

A number of other institutional investors have also added to or reduced their stakes in PSNY. Geode Capital Management LLC increased its holdings in shares of Polestar Automotive Holding UK by 444.0% during the third quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock valued at $1,471,000 after acquiring an additional 697,820 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Polestar Automotive Holding UK in the 4th quarter valued at $504,000. Tidal Investments LLC increased its stake in Polestar Automotive Holding UK by 78.3% during the 3rd quarter. Tidal Investments LLC now owns 468,741 shares of the company’s stock valued at $806,000 after purchasing an additional 205,890 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in 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 valued at $550,000 after purchasing an additional 77,106 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Polestar Automotive Holding UK by 91.5% during the third quarter. XTX Topco Ltd now owns 288,564 shares of the company’s stock worth $496,000 after buying an additional 137,907 shares during the last quarter. 1.02% of the stock is owned by institutional investors and hedge funds.

Polestar Automotive Holding UK Stock Performance

Polestar Automotive Holding UK stock opened at $1.08 on Monday. Polestar Automotive Holding UK PLC has a fifty-two week low of $0.61 and a fifty-two week high of $1.94. The firm’s 50-day simple moving average is $1.09 and its 200 day simple moving average is $1.20. The stock has a market cap of $2.31 billion, a PE ratio of -1.89 and a beta of 1.49.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PSNY shares. Cantor Fitzgerald reissued a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Friday, January 17th. Bank of America began coverage on Polestar Automotive Holding UK in a research note on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target for the company. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $1.53.

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.