Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Up 15.2%

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares were up 15.2% during trading on Thursday . The company traded as high as $0.82 and last traded at $0.81. Approximately 13,721,511 shares were traded during mid-day trading, an increase of 140% from the average daily volume of 5,709,953 shares. The stock had previously closed at $0.71.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup reduced their target price on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a report on Thursday, May 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 target price on shares of Polestar Automotive Holding UK in a research note on Friday, April 12th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $2.00 price target (down previously from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Polestar Automotive Holding UK presently has a consensus rating of “Hold” and a consensus target price of $3.48.

Polestar Automotive Holding UK Price Performance

The firm’s 50 day simple moving average is $0.99 and its 200-day simple moving average is $1.54.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of institutional investors and hedge funds have recently made changes to their positions in PSNY. Invesco Ltd. increased its position in Polestar Automotive Holding UK by 10.7% during the third quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock worth $7,481,000 after buying an additional 273,479 shares during the last quarter. Tobam lifted its holdings in Polestar Automotive Holding UK by 24.0% during the 4th quarter. Tobam now owns 1,136,540 shares of the company’s stock valued at $2,569,000 after purchasing an additional 220,147 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Polestar Automotive Holding UK by 67.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 288,172 shares of the company’s stock worth $608,000 after purchasing an additional 116,207 shares during the period. Green Alpha Advisors LLC raised its position in shares of Polestar Automotive Holding UK by 2.4% in the first quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock valued at $430,000 after purchasing an additional 6,528 shares during the period. Finally, Mariner LLC lifted its stake in shares of Polestar Automotive Holding UK by 207.5% during the 3rd quarter. Mariner LLC now owns 252,901 shares of the company’s stock worth $668,000 after buying an additional 170,660 shares during the last quarter. Institutional investors own 1.02% of the company’s stock.

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.