Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 953.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,553 shares of the company’s stock after buying an additional 223,150 shares during the period. Advisors Asset Management Inc.’s holdings in Polestar Automotive Holding UK were worth $424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSNY. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Polestar Automotive Holding UK by 77.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock valued at $25,000 after acquiring an additional 13,624 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in Polestar Automotive Holding UK during the 2nd quarter worth $26,000. SG Americas Securities LLC acquired a new position in Polestar Automotive Holding UK in the second quarter valued at $32,000. Versor Investments LP purchased a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at about $47,000. Finally, DNB Asset Management AS acquired a new stake in shares of Polestar Automotive Holding UK during the second quarter worth about $48,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSNY has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.00 price objective on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th. Piper Sandler decreased their price target on 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. Sanford C. Bernstein boosted their price objective on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a research note on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft restated 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Polestar Automotive Holding UK presently has a consensus rating of “Hold” and a consensus target price of $1.58.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ PSNY opened at $1.09 on Friday. Polestar Automotive Holding UK PLC has a one year low of $0.61 and a one year high of $2.65. The firm has a market capitalization of $2.33 billion, a P/E ratio of -1.91 and a beta of 1.54. The company’s fifty day moving average is $1.35 and its two-hundred day moving average is $1.09.

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.