Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Given Average Recommendation of “Reduce” by Brokerages

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have been assigned an average recommendation of “Reduce” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $1.53.

Several equities research analysts have issued reports on the company. Bank of America started coverage on Polestar Automotive Holding UK in a research note on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target for the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Friday, January 17th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Polestar Automotive Holding UK by 48.0% during the 4th quarter. Geode Capital Management LLC now owns 1,265,400 shares of the company’s stock valued at $1,329,000 after purchasing an additional 410,401 shares during the period. Swiss National Bank purchased a new position in Polestar Automotive Holding UK during the 4th quarter valued at about $855,000. Deutsche Bank AG purchased a new position in Polestar Automotive Holding UK during the 4th quarter valued at about $681,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Polestar Automotive Holding UK during the 4th quarter valued at about $610,000. Finally, Northern Trust Corp purchased a new position in Polestar Automotive Holding UK during the 4th quarter valued at about $548,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ PSNY opened at $1.12 on Tuesday. The stock has a market cap of $2.39 billion, a PE ratio of -1.96 and a beta of 1.49. Polestar Automotive Holding UK has a fifty-two week low of $0.61 and a fifty-two week high of $1.94. The stock has a fifty day moving average of $1.10 and a 200-day moving average of $1.21.

Polestar Automotive Holding UK Company Profile

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