1,678,156 Shares in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ bought a new position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 1,678,156 shares of the company's stock, valued at approximately $1,321,000. Skandinaviska Enskilda Banken AB publ owned approximately 0.08% of Polestar Automotive Holding UK as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Polestar Automotive Holding UK by 77.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company's stock valued at $25,000 after purchasing an additional 13,624 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter valued at $26,000. SG Americas Securities LLC bought a new stake in shares of Polestar Automotive Holding UK during the second quarter worth $32,000. Versor Investments LP bought a new stake in shares of Polestar Automotive Holding UK during the second quarter worth $47,000. Finally, DNB Asset Management AS acquired a new position in shares of Polestar Automotive Holding UK during the second quarter valued at $48,000. 1.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $1.50 price objective on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Cantor Fitzgerald reissued an "overweight" rating and set a $3.00 price target on shares of Polestar Automotive Holding UK in a research note on Monday. Sanford C. Bernstein raised 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. 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 reduced their price target on Polestar Automotive Holding UK from $2.00 to $1.50 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $1.58.

Polestar Automotive Holding UK Stock Performance

Polestar Automotive Holding UK stock traded up $0.19 during mid-day trading on Tuesday, hitting $1.74. 6,507,453 shares of the company's stock were exchanged, compared to its average volume of 8,061,524. The company's 50 day simple moving average is $1.04 and its 200-day simple moving average is $1.12. Polestar Automotive Holding UK PLC has a fifty-two week low of $0.61 and a fifty-two week high of $2.94.

Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report) last released 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, research analysts predict that Polestar Automotive Holding UK PLC will post -0.53 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.