Polestar Automotive Holding UK PLC $PSNY Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. reduced its position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 11.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 369,729 shares of the company’s stock after selling 47,422 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Polestar Automotive Holding UK were worth $348,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at $326,000. Quadrature Capital Ltd raised its holdings in shares of Polestar Automotive Holding UK by 224.7% in the second quarter. Quadrature Capital Ltd now owns 241,593 shares of the company’s stock valued at $260,000 after buying an additional 167,196 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Polestar Automotive Holding UK by 18.6% during the second 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 period. Focus Partners Wealth acquired a new stake in shares of Polestar Automotive Holding UK during the first quarter worth about $62,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Polestar Automotive Holding UK by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock worth $555,000 after buying an additional 57,717 shares during the last quarter. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Zacks Research raised Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Cantor Fitzgerald lowered shares of Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Sell”.

Polestar Automotive Holding UK Stock Performance

Polestar Automotive Holding UK stock opened at $18.11 on Thursday. Polestar Automotive Holding UK PLC has a fifty-two week low of $11.75 and a fifty-two week high of $42.60. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -0.93 and a beta of 1.23. The stock’s fifty day moving average is $49.67 and its two-hundred day moving average is $498.88.

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.