Swiss National Bank Increases Holdings in Polestar Automotive Holding UK PLC $PSNY

Swiss National Bank grew its holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 195.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 88,893 shares of the company’s stock after buying an additional 58,800 shares during the quarter. Swiss National Bank’s holdings in Polestar Automotive Holding UK were worth $1,637,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in shares of Polestar Automotive Holding UK by 45.0% during the second quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock valued at $51,000 after buying an additional 14,877 shares during the period. Focus Partners Wealth purchased a new stake in Polestar Automotive Holding UK in the first quarter worth $62,000. Captrust Financial Advisors lifted 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 worth $63,000 after acquiring an additional 17,700 shares during the period. Cresset Asset Management LLC lifted 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 worth $89,000 after acquiring an additional 17,590 shares during the period. Finally, Rafferty Asset Management LLC boosted its holdings in Polestar Automotive Holding UK by 99.1% in the second quarter. Rafferty Asset Management LLC now owns 106,630 shares of the company’s stock valued at $114,000 after acquiring an additional 53,086 shares in the last quarter. 1.02% of the stock is currently owned by institutional investors.

Polestar Automotive Holding UK Stock Up 1.6%

PSNY opened at $14.40 on Friday. The stock has a market cap of $1.34 billion, a PE ratio of -0.75 and a beta of 1.32. The business has a 50 day moving average of $18.42 and a 200-day moving average of $18.60. Polestar Automotive Holding UK PLC has a 52 week low of $11.75 and a 52 week high of $42.60.

Insiders Place Their Bets

In other news, Director Quan (Joe) Zhang acquired 1,700 shares of the stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of $17.70 per share, with a total value of $30,090.00. Following the completion of the transaction, the director owned 3,300 shares of the company’s stock, valued at $58,410. This represents a 106.25% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Francesca Paola Leandr Gamboni bought 1,709 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average price of $17.56 per share, for a total transaction of $30,010.04. Following the acquisition, the director owned 4,792 shares in the company, valued at approximately $84,147.52. This represents a 55.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 21,829 shares of company stock valued at $396,522 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSNY. Weiss Ratings raised shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Profile

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.