UBS Group AG Sells 2,269,616 Shares of Polestar Automotive Holding UK PLC $PSNY

UBS Group AG decreased its position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 94.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,642 shares of the company’s stock after selling 2,269,616 shares during the quarter. UBS Group AG owned about 0.20% of Polestar Automotive Holding UK worth $2,984,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Polestar Automotive Holding UK by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 167,188 shares of the company’s stock worth $157,000 after acquiring an additional 10,780 shares during the last quarter. California State Teachers Retirement System boosted its stake in Polestar Automotive Holding UK by 18.6% during the 2nd quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock worth $491,000 after acquiring an additional 72,023 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Polestar Automotive Holding UK by 12.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock worth $555,000 after acquiring an additional 57,717 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Polestar Automotive Holding UK during the 2nd quarter worth approximately $326,000. Finally, Bank of America Corp DE boosted its stake in Polestar Automotive Holding UK by 128.7% during the 3rd quarter. Bank of America Corp DE now owns 164,594 shares of the company’s stock worth $155,000 after acquiring an additional 92,621 shares during the last quarter. Institutional investors own 1.02% of the company’s stock.

Polestar Automotive Holding UK Stock Performance

Shares of PSNY stock opened at $22.25 on Tuesday. The company has a market capitalization of $2.08 billion, a P/E ratio of -1.14 and a beta of 1.22. The company’s 50 day moving average price is $19.32 and its two-hundred day moving average price is $155.19. Polestar Automotive Holding UK PLC has a 52 week low of $11.75 and a 52 week high of $42.60.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PSNY. Wall Street Zen raised shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Cantor Fitzgerald downgraded shares of Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a report on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Polestar Automotive Holding UK Company Profile

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.