Polestar Automotive Holding UK (NASDAQ:PSNY) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Polestar Automotive Holding UK (NASDAQ:PSNY) in a research note released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $3.00 price objective on the stock.

Several other brokerages also recently weighed in on PSNY. Barclays reduced their price objective on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an underweight rating for the company in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reissued a hold rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Piper Sandler decreased their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a neutral rating on the stock in a research report on Wednesday, September 4th. Finally, Sanford C. Bernstein boosted their price objective on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an underperform rating in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $1.58.

Polestar Automotive Holding UK Price Performance

NASDAQ PSNY opened at $1.68 on Monday. The firm has a 50 day simple moving average of $1.16 and a 200-day simple moving average of $1.13. Polestar Automotive Holding UK has a one year low of $0.61 and a one year high of $2.94.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.35) EPS for the quarter. The firm had revenue of $534.12 million for the quarter. Equities research analysts expect that Polestar Automotive Holding UK will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Polestar Automotive Holding UK by 71.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 242,402 shares of the company’s stock valued at $191,000 after acquiring an additional 101,066 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at approximately $179,000. Scientech Research LLC purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at approximately $161,000. Marshall Wace LLP purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at approximately $407,000. Finally, Public Sector Pension Investment Board bought a new position in Polestar Automotive Holding UK during the second quarter worth $193,000. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

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.