250,788 Shares in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 250,788 shares of the company’s stock, valued at approximately $189,000.

A number of other large investors have also recently bought and sold shares of the company. AMF Tjanstepension AB lifted its position 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 worth $17,283,000 after purchasing an additional 17,571,426 shares in the last quarter. Swedbank AB bought a new position in shares of Polestar Automotive Holding UK during the second quarter worth approximately $9,235,000. Tredje AP fonden acquired a new stake in Polestar Automotive Holding UK in the 2nd quarter worth about $3,091,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Polestar Automotive Holding UK during the second quarter worth approximately $518,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at approximately $266,000. Institutional investors and hedge funds own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PSNY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th. Sanford C. Bernstein increased 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 note on Friday, August 30th. Barclays dropped their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a research report on Wednesday, July 3rd. Finally, Piper Sandler decreased their price objective 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. Two investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $1.58.

Polestar Automotive Holding UK Price Performance

PSNY stock opened at $1.69 on Friday. The firm has a 50-day moving average price of $1.20 and a 200-day moving average price of $1.14. Polestar Automotive Holding UK PLC has a 12 month low of $0.61 and a 12 month high of $2.91.

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

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.