AMF Tjanstepension AB Decreases Stock Holdings in Polestar Automotive Holding UK PLC $PSNY

AMF Tjanstepension AB lowered its holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,576,160 shares of the company’s stock after selling 395,706 shares during the period. AMF Tjanstepension AB owned approximately 1.01% of Polestar Automotive Holding UK worth $23,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Goldman Sachs Group Inc. increased its holdings in Polestar Automotive Holding UK by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock valued at $555,000 after purchasing an additional 57,717 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Polestar Automotive Holding UK in the first quarter worth about $62,000. SCS Capital Management LLC acquired a new stake in shares of Polestar Automotive Holding UK in the first quarter valued at about $43,000. Advisors Asset Management Inc. grew its stake in shares of 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 valued at $472,000 after buying an additional 170,563 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Polestar Automotive Holding UK by 1,096.8% during the 1st quarter. Invesco Ltd. now owns 146,238 shares of the company’s stock valued at $154,000 after buying an additional 134,019 shares during the period. Institutional investors and hedge funds own 1.02% of the company’s stock.

Polestar Automotive Holding UK Stock Up 1.4%

Shares of PSNY opened at $0.96 on Friday. The business’s 50 day moving average is $1.05 and its two-hundred day moving average is $1.06. Polestar Automotive Holding UK PLC has a 52-week low of $0.84 and a 52-week high of $1.74. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -1.69 and a beta of 1.36.

Analysts Set New Price Targets

A number of research firms have weighed in on PSNY. Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Thursday, September 4th. Wall Street Zen downgraded shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Polestar Automotive Holding UK in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Polestar Automotive Holding UK has an average rating of “Reduce” and a consensus target price of $1.25.

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.