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

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has received a consensus rating of “Reduce” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $1.53.

A number of research analysts recently issued reports on PSNY shares. Bank of America started coverage on Polestar Automotive Holding UK in a report on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 target price on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Sanford C. Bernstein boosted their price target on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a research report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th. Finally, Piper Sandler cut their price objective on 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.

Polestar Automotive Holding UK Stock Down 5.3 %

Shares of NASDAQ PSNY opened at $0.86 on Thursday. The firm’s fifty day moving average is $1.17 and its 200 day moving average is $1.09. Polestar Automotive Holding UK has a 52 week low of $0.61 and a 52 week high of $2.56. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -1.50 and a beta of 1.53.

Institutional Trading of Polestar Automotive Holding UK

Institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in Polestar Automotive Holding UK by 78.3% in the third quarter. Tidal Investments LLC now owns 468,741 shares of the company’s stock worth $806,000 after buying an additional 205,890 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Polestar Automotive Holding UK by 444.0% during the third quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock valued at $1,471,000 after acquiring an additional 697,820 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Polestar Automotive Holding UK during the third quarter valued at approximately $468,000. XTX Topco Ltd lifted its position in Polestar Automotive Holding UK by 91.5% in the 3rd quarter. XTX Topco Ltd now owns 288,564 shares of the company’s stock valued at $496,000 after acquiring an additional 137,907 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in Polestar Automotive Holding UK by 125.4% during the 3rd quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock valued at $80,000 after purchasing an additional 25,930 shares during the last quarter. 1.02% of the stock is currently owned by institutional investors.

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.