Polestar Automotive Holding UK (NASDAQ:PSNY) Trading 3.7% Higher – Time to Buy?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price traded up 3.7% during mid-day trading on Monday . The stock traded as high as $1.13 and last traded at $1.12. 2,060,927 shares were traded during mid-day trading, a decline of 65% from the average session volume of 5,855,598 shares. The stock had previously closed at $1.08.

Polestar Automotive Holding UK Stock Up 3.7%

The firm has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.08. The stock has a market cap of $2.39 billion, a P/E ratio of -1.96 and a beta of 1.41.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of large investors have recently made changes to their positions in PSNY. Bank of New York Mellon Corp bought a new position in shares of Polestar Automotive Holding UK during the fourth quarter worth approximately $37,000. Raymond James Financial Inc. acquired a new stake in Polestar Automotive Holding UK during the fourth quarter worth approximately $33,000. Swiss National Bank acquired a new stake in Polestar Automotive Holding UK during the fourth quarter worth approximately $855,000. Performa Ltd US LLC grew its position in Polestar Automotive Holding UK by 23.6% during the fourth quarter. Performa Ltd US LLC now owns 82,520 shares of the company’s stock worth $87,000 after buying an additional 15,752 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Polestar Automotive Holding UK during the fourth quarter worth approximately $115,000. Institutional investors own 1.02% of the company’s stock.

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.