Marshall Wace LLP Purchases Shares of 515,000 Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Marshall Wace LLP acquired a new position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 515,000 shares of the company’s stock, valued at approximately $407,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Public Sector Pension Investment Board bought a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at $193,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at about $1,321,000. Canada Pension Plan Investment Board grew its stake in shares of Polestar Automotive Holding UK by 59.4% in the second quarter. Canada Pension Plan Investment Board now owns 321,142 shares of the company’s stock valued at $253,000 after acquiring an additional 119,642 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Polestar Automotive Holding UK in the second quarter valued at about $26,000. Finally, XTX Topco Ltd increased its position in Polestar Automotive Holding UK by 153.1% during the second quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock worth $119,000 after acquiring an additional 91,139 shares during the period. Institutional investors and hedge funds own 1.02% of the company’s stock.

Polestar Automotive Holding UK Stock Performance

Shares of PSNY opened at $1.48 on Friday. The firm has a 50 day simple moving average of $1.25 and a two-hundred day simple moving average of $1.13. Polestar Automotive Holding UK PLC has a one year low of $0.61 and a one year high of $2.90.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.35) EPS for the quarter. The firm had revenue of $534.12 million during the quarter. On average, analysts expect that Polestar Automotive Holding UK PLC will post -0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PSNY shares. Piper Sandler cut their price objective on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $3.00 price target on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Barclays lowered their price objective on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 target price on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Finally, Sanford C. Bernstein raised their price target on 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 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 company’s stock. Based on data from MarketBeat, Polestar Automotive Holding UK presently has an average rating of “Hold” and a consensus target price of $1.58.

Polestar Automotive Holding UK Profile

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