Y Intercept Hong Kong Ltd Acquires New Stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Y Intercept Hong Kong Ltd bought a new position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 271,840 shares of the company’s stock, valued at approximately $468,000.

Several other hedge funds have also recently made changes to their positions in the company. Tredje AP fonden bought a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth $3,091,000. Skandinaviska Enskilda Banken AB publ bought a new position in Polestar Automotive Holding UK during the second quarter worth about $1,321,000. Marshall Wace LLP purchased a new position in shares of Polestar Automotive Holding UK in the second quarter worth about $407,000. Renaissance Technologies LLC bought a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at approximately $266,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Polestar Automotive Holding UK by 59.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 321,142 shares of the company’s stock valued at $253,000 after buying an additional 119,642 shares in the last quarter. 1.02% of the stock is currently owned by institutional investors.

Polestar Automotive Holding UK Stock Down 1.0 %

Shares of NASDAQ PSNY opened at $1.02 on Monday. The stock’s 50-day simple moving average is $1.21 and its two-hundred day simple moving average is $1.09. Polestar Automotive Holding UK PLC has a twelve month low of $0.61 and a twelve month high of $2.65. The firm has a market capitalization of $2.18 billion, a P/E ratio of -1.79 and a beta of 1.53.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 price objective on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. 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 note on Friday, August 30th. Bank of America started coverage on Polestar Automotive Holding UK in a research report on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target on the stock. Finally, Piper Sandler cut their price objective on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Polestar Automotive Holding UK has an average rating of “Hold” and a consensus 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.