Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Up 3.2% – What’s Next?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) traded up 3.2% during trading on Wednesday . The stock traded as high as $1.17 and last traded at $1.14. 2,534,567 shares were traded during trading, a decline of 53% from the average session volume of 5,357,852 shares. The stock had previously closed at $1.10.

Analysts Set New Price Targets

PSNY has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Bank of America initiated coverage on Polestar Automotive Holding UK in a research report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 target price on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1.53.

Polestar Automotive Holding UK Stock Performance

The company has a market cap of $2.35 billion, a P/E ratio of -1.93 and a beta of 1.53. The stock has a 50-day moving average of $1.10 and a two-hundred day moving average of $1.13.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Large investors have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado purchased a new position in Polestar Automotive Holding UK during the second quarter valued at $26,000. MetLife Investment Management LLC boosted its stake in Polestar Automotive Holding UK by 134.4% in the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock worth $26,000 after purchasing an additional 8,823 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Polestar Automotive Holding UK by 125.4% in the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after buying an additional 25,930 shares in the last quarter. XTX Topco Ltd lifted its position in Polestar Automotive Holding UK by 153.1% in the 2nd quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock valued at $119,000 after acquiring an additional 91,139 shares in the last quarter. Finally, Scientech Research LLC purchased a new stake in shares of Polestar Automotive Holding UK during the 2nd quarter valued at about $161,000. 1.02% of the stock is owned by hedge funds and other 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.