SCS Capital Management LLC Makes New $43,000 Investment in Polestar Automotive Holding UK PLC $PSNY

SCS Capital Management LLC bought a new position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) during the 1st quarter, Holdings Channel reports. The institutional investor bought 40,670 shares of the company’s stock, valued at approximately $43,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Deutsche Bank AG boosted its holdings in Polestar Automotive Holding UK by 22.5% in the first quarter. Deutsche Bank AG now owns 794,873 shares of the company’s stock worth $835,000 after acquiring an additional 146,107 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Polestar Automotive Holding UK in the fourth quarter worth $610,000. Goldman Sachs Group Inc. boosted its holdings in Polestar Automotive Holding UK by 12.2% in the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock worth $555,000 after acquiring an additional 57,717 shares in the last quarter. Northern Trust Corp bought a new stake in Polestar Automotive Holding UK in the fourth quarter worth $548,000. Finally, Advisors Asset Management Inc. boosted its holdings in Polestar Automotive Holding UK by 61.2% in the first quarter. Advisors Asset Management Inc. now owns 449,227 shares of the company’s stock worth $472,000 after acquiring an additional 170,563 shares in the last quarter. 1.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reissued a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Thursday, September 4th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Polestar Automotive Holding UK currently has a consensus rating of “Hold” and a consensus price target of $2.13.

Polestar Automotive Holding UK Stock Down 2.3%

Shares of PSNY stock opened at $0.94 on Friday. The company has a 50 day moving average price of $1.09 and a 200-day moving average price of $1.08. Polestar Automotive Holding UK PLC has a 52 week low of $0.84 and a 52 week high of $1.94. The firm has a market capitalization of $2.01 billion, a PE ratio of -1.65 and a beta of 1.44.

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.