Geode Capital Management LLC Increases Stock Holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Geode Capital Management LLC raised its stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 444.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 854,999 shares of the company’s stock after purchasing an additional 697,820 shares during the quarter. Geode Capital Management LLC’s holdings in Polestar Automotive Holding UK were worth $1,471,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tredje AP fonden purchased a new position in shares of Polestar Automotive Holding UK during the second quarter valued at about $3,091,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Polestar Automotive Holding UK during the 2nd quarter valued at approximately $1,321,000. Marshall Wace LLP purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth approximately $407,000. Renaissance Technologies LLC bought a new position in shares of Polestar Automotive Holding UK in the 2nd quarter worth approximately $266,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Polestar Automotive Holding UK in the 3rd quarter worth approximately $468,000. 1.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Bank of America assumed coverage on Polestar Automotive Holding UK in a research report on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.00 target price on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $1.53.

Polestar Automotive Holding UK Trading Up 0.9 %

Polestar Automotive Holding UK stock opened at $1.11 on Thursday. Polestar Automotive Holding UK PLC has a 12 month low of $0.61 and a 12 month high of $2.33. The business’s fifty day simple moving average is $1.10 and its two-hundred day simple moving average is $1.13. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -1.95 and a beta of 1.53.

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.