Veritable L.P. Acquires Shares of 13,555 Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Veritable L.P. acquired a new stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,555 shares of the company’s stock, valued at approximately $52,000.

A number of other hedge funds also recently bought and sold shares of the business. Alyeska Investment Group L.P. increased its holdings in shares of Polestar Automotive Holding UK by 744.0% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,451,571 shares of the company’s stock worth $27,874,000 after buying an additional 2,161,109 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Polestar Automotive Holding UK during the 4th quarter worth approximately $3,981,000. First Trust Advisors LP increased its holdings in shares of Polestar Automotive Holding UK by 1,271.0% during the 1st quarter. First Trust Advisors LP now owns 513,168 shares of the company’s stock worth $1,945,000 after buying an additional 475,739 shares during the last quarter. Tobam increased its holdings in shares of Polestar Automotive Holding UK by 943.3% during the 2nd quarter. Tobam now owns 460,459 shares of the company’s stock worth $1,759,000 after buying an additional 416,325 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of Polestar Automotive Holding UK by 463.0% during the 1st quarter. Squarepoint Ops LLC now owns 251,922 shares of the company’s stock worth $955,000 after buying an additional 207,178 shares during the last quarter. Institutional investors and hedge funds own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSNY. Barclays cut their price target on shares of Polestar Automotive Holding UK from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 target price on shares of Polestar Automotive Holding UK in a report on Friday, September 1st. R. F. Lafferty initiated coverage on shares of Polestar Automotive Holding UK in a report on Tuesday, August 1st. They issued a “buy” rating and a $9.00 target price for the company. Finally, Piper Sandler initiated coverage on shares of Polestar Automotive Holding UK in a report on Wednesday, November 1st. They issued an “overweight” rating and a $3.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Polestar Automotive Holding UK presently has a consensus rating of “Moderate Buy” and an average price target of $5.40.

Polestar Automotive Holding UK Price Performance

Shares of PSNY stock opened at $2.12 on Tuesday. Polestar Automotive Holding UK PLC has a 52 week low of $1.98 and a 52 week high of $8.25. The firm has a 50 day moving average of $2.42 and a two-hundred day moving average of $3.31.

Polestar Automotive Holding UK (NASDAQ:PSNY) last issued its quarterly earnings results on Thursday, August 31st. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The business had revenue of $685.25 million for the quarter. As a group, analysts anticipate that Polestar Automotive Holding UK PLC will post -0.39 EPS for the current 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.