Polestar Automotive Holding UK Sees Unusually High Options Volume (NASDAQ:PSNY)

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) saw some unusual options trading activity on Friday. Investors purchased 6,094 put options on the company. This is an increase of approximately 46% compared to the typical volume of 4,181 put options.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new stake in Polestar Automotive Holding UK during the 3rd quarter valued at about $25,000. Principal Street Partners LLC bought a new stake in Polestar Automotive Holding UK during the 4th quarter valued at about $28,000. Tower Research Capital LLC TRC bought a new stake in Polestar Automotive Holding UK during the 3rd quarter valued at about $28,000. Avantax Advisory Services Inc. bought a new stake in Polestar Automotive Holding UK during the 3rd quarter valued at about $34,000. Finally, Schechter Investment Advisors LLC bought a new stake in Polestar Automotive Holding UK during the 4th quarter valued at about $35,000. 1.02% of the stock is currently owned by institutional investors.

Polestar Automotive Holding UK Stock Up 0.8 %

Shares of Polestar Automotive Holding UK stock traded up $0.01 during trading on Friday, hitting $1.34. The company’s stock had a trading volume of 2,466,937 shares, compared to its average volume of 3,229,502. The company has a fifty day simple moving average of $1.61 and a two-hundred day simple moving average of $2.01. Polestar Automotive Holding UK has a 52 week low of $1.24 and a 52 week high of $4.96.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSNY. Sanford C. Bernstein assumed coverage on shares of Polestar Automotive Holding UK in a research note on Wednesday, January 24th. They issued an “underperform” rating and a $1.15 price objective for the company. Piper Sandler reissued a “neutral” rating and set a $2.00 price target (down previously from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price target on shares of Polestar Automotive Holding UK in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.83.

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.