Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Up 5.3%

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares shot up 5.3% during mid-day trading on Thursday . The company traded as high as $1.45 and last traded at $1.38. 2,928,776 shares changed hands during trading, a decline of 9% from the average session volume of 3,222,600 shares. The stock had previously closed at $1.31.

Wall Street Analysts Forecast Growth

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

Polestar Automotive Holding UK Price Performance

The stock has a fifty day simple moving average of $1.60 and a two-hundred day simple moving average of $2.00.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of institutional investors and hedge funds have recently bought and sold shares of PSNY. Invesco Ltd. boosted its stake in shares of Polestar Automotive Holding UK by 10.7% during the 3rd quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock valued at $7,481,000 after buying an additional 273,479 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Polestar Automotive Holding UK by 18.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 62,999 shares of the company’s stock valued at $166,000 after buying an additional 9,942 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Polestar Automotive Holding UK by 24.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 574,550 shares of the company’s stock valued at $1,517,000 after buying an additional 112,900 shares during the last quarter. Schechter Investment Advisors LLC purchased a new position in shares of Polestar Automotive Holding UK during the 4th quarter valued at approximately $35,000. Finally, Avantax Advisory Services Inc. purchased a new position in shares of Polestar Automotive Holding UK during the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

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.