Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Holdings Lifted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 59.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 321,142 shares of the company’s stock after acquiring an additional 119,642 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Polestar Automotive Holding UK were worth $253,000 as of its most recent SEC filing.

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

Polestar Automotive Holding UK Stock Up 4.6 %

Shares of PSNY opened at $1.83 on Friday. The company’s 50 day moving average price is $1.11 and its 200 day moving average price is $1.13. Polestar Automotive Holding UK PLC has a 52 week low of $0.61 and a 52 week high of $2.94.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted 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 for the quarter. As a group, equities research analysts anticipate that Polestar Automotive Holding UK PLC will post -0.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PSNY. Piper Sandler dropped 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 note on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating and set a $3.00 price target on shares of Polestar Automotive Holding UK in a report on Monday, September 23rd. Barclays decreased their price objective on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a research note on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $1.50 target price on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Finally, Sanford C. Bernstein raised their target price on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $1.58.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.