First Trust Advisors LP Has $1.41 Million Position in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

First Trust Advisors LP reduced its stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Free Report) by 56.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,342,902 shares of the company's stock after selling 1,728,867 shares during the period. First Trust Advisors LP owned approximately 0.06% of Polestar Automotive Holding UK worth $1,410,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Swiss National Bank bought a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at about $855,000. Geode Capital Management LLC raised its stake in shares of Polestar Automotive Holding UK by 444.0% during the 3rd quarter. Geode Capital Management LLC now owns 854,999 shares of the company's stock worth $1,471,000 after purchasing an additional 697,820 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Polestar Automotive Holding UK in the 4th quarter valued at approximately $504,000. Legal & General Group Plc grew its stake in shares of Polestar Automotive Holding UK by 13,342.1% in the fourth quarter. Legal & General Group Plc now owns 442,648 shares of the company's stock valued at $465,000 after buying an additional 439,355 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Polestar Automotive Holding UK during the fourth quarter worth $320,000. Institutional investors own 1.02% of the company's stock.

Polestar Automotive Holding UK Stock Down 5.7 %

Shares of PSNY traded down $0.07 during midday trading on Friday, reaching $1.09. 5,818,838 shares of the stock were exchanged, compared to its average volume of 7,669,916. The stock's 50 day simple moving average is $1.06 and its 200 day simple moving average is $1.09. The company has a market cap of $2.32 billion, a P/E ratio of -1.90 and a beta of 1.43. Polestar Automotive Holding UK PLC has a twelve month low of $0.61 and a twelve month high of $1.94.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reissued a "neutral" rating on shares of Polestar Automotive Holding UK in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to MarketBeat, the company presently 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.