Mitsubishi UFJ Asset Management Co. Ltd. Cuts Holdings in Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Mitsubishi UFJ Asset Management Co. Ltd. lessened its position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 2.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 474,128 shares of the company’s stock after selling 9,886 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Polestar Automotive Holding UK were worth $498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its holdings in shares of Polestar Automotive Holding UK by 134.4% during the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock worth $26,000 after purchasing an additional 8,823 shares during the period. Performa Ltd US LLC grew its stake in Polestar Automotive Holding UK by 23.6% during the fourth quarter. Performa Ltd US LLC now owns 82,520 shares of the company’s stock worth $87,000 after buying an additional 15,752 shares during the period. Captrust Financial Advisors increased its position in shares of Polestar Automotive Holding UK by 125.4% in the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after acquiring an additional 25,930 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at $33,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Polestar Automotive Holding UK during the 4th quarter valued at $37,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

Polestar Automotive Holding UK Stock Performance

NASDAQ:PSNY opened at $1.04 on Thursday. Polestar Automotive Holding UK PLC has a one year low of $0.61 and a one year high of $1.94. The business’s 50-day simple moving average is $1.09 and its 200 day simple moving average is $1.19. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -1.82 and a beta of 1.49.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Friday, January 17th. Bank of America began coverage on Polestar Automotive Holding UK in a report on Thursday, December 5th. They set a “neutral” rating and a $1.25 target price on the stock. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $1.53.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.