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

Mitsubishi UFJ Asset Management Co. Ltd. lowered its stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 11.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 369,729 shares of the company’s stock after selling 47,422 shares during the period. 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 also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in shares of Polestar Automotive Holding UK by 45.0% in the second quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock worth $51,000 after acquiring an additional 14,877 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Polestar Automotive Holding UK during the first quarter valued at $62,000. Captrust Financial Advisors increased its position in Polestar Automotive Holding UK by 43.2% during the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after purchasing an additional 17,700 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Polestar Automotive Holding UK by 26.7% in the 2nd quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock valued at $89,000 after purchasing an additional 17,590 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Polestar Automotive Holding UK by 99.1% during the 2nd quarter. Rafferty Asset Management LLC now owns 106,630 shares of the company’s stock worth $114,000 after purchasing an additional 53,086 shares during the last quarter. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Polestar Automotive Holding UK Trading Down 1.4%

Shares of PSNY opened at $18.11 on Thursday. Polestar Automotive Holding UK PLC has a twelve month low of $11.75 and a twelve month high of $42.60. The firm has a market capitalization of $1.29 billion, a P/E ratio of -0.93 and a beta of 1.23. The stock’s fifty day simple moving average is $49.67 and its 200 day simple moving average is $498.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PSNY shares. 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. Zacks Research upgraded Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

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.