AMF Tjanstepension AB Trims Stake in Polestar Automotive Holding UK PLC $PSNY

AMF Tjanstepension AB lowered its stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 99.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,333 shares of the company’s stock after selling 17,841,667 shares during the period. AMF Tjanstepension AB’s holdings in Polestar Automotive Holding UK were worth $3,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSNY. UBS Group AG grew its stake in shares of Polestar Automotive Holding UK by 22.6% in the 3rd quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock worth $2,265,000 after buying an additional 443,359 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter worth approximately $326,000. Bank of America Corp DE grew its stake in shares of Polestar Automotive Holding UK by 128.7% in the 3rd quarter. Bank of America Corp DE now owns 164,594 shares of the company’s stock worth $155,000 after buying an additional 92,621 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Polestar Automotive Holding UK by 18.6% in the 2nd quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock worth $491,000 after buying an additional 72,023 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in Polestar Automotive Holding UK during the 1st quarter valued at $62,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Cantor Fitzgerald downgraded Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research note on Thursday, February 19th. Wall Street Zen upgraded Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings upgraded Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Stock Performance

Shares of Polestar Automotive Holding UK stock opened at $21.90 on Tuesday. Polestar Automotive Holding UK PLC has a one year low of $11.75 and a one year high of $42.60. The stock’s fifty day moving average is $18.79 and its 200 day moving average is $180.31. The stock has a market cap of $2.04 billion, a P/E ratio of -1.12 and a beta of 1.22.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.