Livforsakringsbolaget Skandia Omsesidigt Purchases Shares of 659,308 Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 659,308 shares of the company’s stock, valued at approximately $518,000.

Other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB increased its position in Polestar Automotive Holding UK by 399.3% during the second quarter. AMF Tjanstepension AB now owns 21,971,866 shares of the company’s stock worth $17,283,000 after purchasing an additional 17,571,426 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Polestar Automotive Holding UK in the fourth quarter worth $351,000. Tidal Investments LLC increased its position in shares of Polestar Automotive Holding UK by 118.4% in the first quarter. Tidal Investments LLC now owns 241,946 shares of the company’s stock worth $373,000 after acquiring an additional 131,167 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Polestar Automotive Holding UK by 67.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 288,172 shares of the company’s stock worth $608,000 after acquiring an additional 116,207 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Polestar Automotive Holding UK in the fourth quarter worth $242,000. Institutional investors and hedge funds own 1.02% of the company’s stock.

Polestar Automotive Holding UK Trading Up 3.2 %

NASDAQ PSNY traded up $0.02 during trading hours on Monday, reaching $0.69. 2,195,857 shares of the company traded hands, compared to its average volume of 7,108,728. Polestar Automotive Holding UK PLC has a 12 month low of $0.61 and a 12 month high of $4.03. The company has a 50 day moving average of $0.79 and a two-hundred day moving average of $1.25.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PSNY. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a research report on Monday, July 22nd. Citigroup decreased their target price on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating for the company in a research note on Thursday, May 16th. Finally, Barclays decreased their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, two 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 presently has an average rating of “Hold” and a consensus target price of $1.77.

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.