Pictet Asset Management Holding SA Decreases Stock Holdings in Polestar Automotive Holding UK PLC $PSNY

Pictet Asset Management Holding SA trimmed its holdings in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) by 90.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,271 shares of the company’s stock after selling 41,887 shares during the period. Pictet Asset Management Holding SA’s holdings in Polestar Automotive Holding UK were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. UBS Group AG increased its position in shares of Polestar Automotive Holding UK by 22.6% during the third quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock valued at $2,265,000 after acquiring an additional 443,359 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 valued at $555,000 after acquiring an additional 57,717 shares during the last quarter. California State Teachers Retirement System increased its position 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 valued at $491,000 after acquiring an additional 72,023 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Polestar Automotive Holding UK during the second quarter valued at approximately $326,000. Finally, JPMorgan Chase & Co. increased its position in shares of Polestar Automotive Holding UK by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 167,188 shares of the company’s stock valued at $157,000 after acquiring an additional 10,780 shares during the last quarter. 1.02% of the stock is owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Price Performance

NASDAQ:PSNY opened at $21.46 on Tuesday. The business has a fifty day simple moving average of $18.57 and a two-hundred day simple moving average of $206.88. Polestar Automotive Holding UK PLC has a 1 year low of $11.75 and a 1 year high of $42.60. The company has a market capitalization of $2.00 billion, a P/E ratio of -1.10 and a beta of 1.22.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PSNY. Zacks Research raised Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Cantor Fitzgerald downgraded Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research report on Thursday, February 19th. Wall Street Zen raised Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Sell”.

Polestar Automotive Holding UK 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.