Swedbank AB Has $8.37 Million Stock Position in Polestar Automotive Holding UK PLC $PSNY

Swedbank AB trimmed its holdings in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 96.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 391,821 shares of the company’s stock after selling 11,367,002 shares during the period. Swedbank AB owned approximately 0.55% of Polestar Automotive Holding UK worth $8,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSNY. Rathbones Group PLC grew its stake in Polestar Automotive Holding UK by 79.1% in the third quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock valued at $43,000 after purchasing an additional 20,000 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Polestar Automotive Holding UK by 45.0% in the second quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock valued at $51,000 after purchasing an additional 14,877 shares in the last quarter. Focus Partners Wealth purchased a new position in Polestar Automotive Holding UK in the first quarter valued at about $62,000. Captrust Financial Advisors grew its stake in Polestar Automotive Holding UK by 43.2% in the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock valued at $63,000 after purchasing an additional 17,700 shares in the last quarter. Finally, Cresset Asset Management LLC grew its stake in Polestar Automotive Holding UK by 26.7% in the second quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock valued at $89,000 after purchasing an additional 17,590 shares in the last quarter. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

PSNY has been the topic of a number of recent research reports. Cantor Fitzgerald downgraded Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research note on Thursday, February 19th. Weiss Ratings upgraded Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Polestar Automotive Holding UK has an average rating of “Sell”.

Polestar Automotive Holding UK Stock Performance

PSNY opened at $22.11 on Wednesday. The company has a market cap of $2.06 billion, a PE ratio of -1.13 and a beta of 1.22. The stock has a 50-day moving average of $19.44 and a 200-day moving average of $150.27. Polestar Automotive Holding UK PLC has a 52-week low of $11.75 and a 52-week high of $42.60.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.