First Trust Advisors LP Lowers Holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

First Trust Advisors LP reduced its position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 56.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,342,902 shares of the company’s stock after selling 1,728,867 shares during the period. First Trust Advisors LP owned about 0.06% of Polestar Automotive Holding UK worth $1,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSNY. Performa Ltd US LLC lifted its holdings in shares of Polestar Automotive Holding UK by 23.6% during the 4th quarter. Performa Ltd US LLC now owns 82,520 shares of the company’s stock valued at $87,000 after buying an additional 15,752 shares during the period. Raymond James Financial Inc. bought a new position in Polestar Automotive Holding UK in the 4th quarter worth $33,000. Bank of New York Mellon Corp bought a new position in shares of Polestar Automotive Holding UK in the fourth quarter worth about $37,000. Alliancebernstein L.P. purchased a new position in shares of Polestar Automotive Holding UK in the fourth quarter worth $42,000. Finally, Tobam bought a new position in shares of Polestar Automotive Holding UK during the 4th quarter valued at about $65,000. 1.02% of the stock is owned by institutional investors.

Polestar Automotive Holding UK Stock Performance

PSNY opened at $1.07 on Wednesday. Polestar Automotive Holding UK PLC has a one year low of $0.61 and a one year high of $1.94. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -1.88 and a beta of 1.43. The stock’s 50 day moving average price is $1.06 and its 200-day moving average price is $1.09.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1.53.

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.