Swedbank AB Purchases 29,269 Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Swedbank AB boosted its position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,770,112 shares of the company’s stock after purchasing an additional 29,269 shares during the period. Swedbank AB owned about 0.55% of Polestar Automotive Holding UK worth $20,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its stake in shares of Polestar Automotive Holding UK by 399.3% in the second quarter. AMF Tjanstepension AB now owns 21,971,866 shares of the company’s stock valued at $17,283,000 after acquiring an additional 17,571,426 shares during the last quarter. Tredje AP fonden bought a new position in Polestar Automotive Holding UK in the 2nd quarter valued at $3,091,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Polestar Automotive Holding UK in the second quarter worth $1,321,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Polestar Automotive Holding UK in the second quarter worth $518,000. Finally, Marshall Wace LLP bought a new stake in shares of Polestar Automotive Holding UK during the second quarter worth $407,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

Polestar Automotive Holding UK Price Performance

Shares of NASDAQ:PSNY opened at $1.20 on Tuesday. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -2.11 and a beta of 1.54. The company has a 50 day moving average of $1.38 and a 200-day moving average of $1.09. Polestar Automotive Holding UK PLC has a one year low of $0.61 and a one year high of $2.65.

Analysts Set New Price Targets

A number of research firms recently issued reports on PSNY. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 target price on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Piper Sandler decreased their price target on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, Sanford C. Bernstein boosted their price objective on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Polestar Automotive Holding UK has an average rating of “Hold” and an average price target of $1.58.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.