Mitsubishi UFJ Asset Management Co. Ltd. Reduces Stock Holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Mitsubishi UFJ Asset Management Co. Ltd. cut its holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,128 shares of the company’s stock after selling 9,886 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Polestar Automotive Holding UK were worth $498,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS purchased a new stake in shares of Polestar Automotive Holding UK in the fourth quarter valued at about $320,000. Teacher Retirement System of Texas purchased a new stake in Polestar Automotive Holding UK in the 4th quarter valued at approximately $115,000. Performa Ltd US LLC grew its holdings in Polestar Automotive Holding UK by 23.6% during the 4th quarter. Performa Ltd US LLC now owns 82,520 shares of the company’s stock valued at $87,000 after buying an additional 15,752 shares during the last quarter. Swiss National Bank purchased a new position in Polestar Automotive Holding UK during the fourth quarter worth $855,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Polestar Automotive Holding UK in the fourth quarter worth $33,000. 1.02% of the stock is owned by institutional investors and hedge funds.

Polestar Automotive Holding UK Price Performance

PSNY opened at $1.04 on Thursday. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -1.82 and a beta of 1.49. Polestar Automotive Holding UK PLC has a 12 month low of $0.61 and a 12 month high of $1.94. The business has a 50-day moving average of $1.09 and a two-hundred day moving average of $1.19.

Wall Street Analysts Forecast Growth

PSNY has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Friday, January 17th. Bank of America began coverage on shares of Polestar Automotive Holding UK in a report 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1.53.

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.