Analysts Set Polestar Automotive Holding UK PLC (NASDAQ:PSNY) PT at $1.53

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have received a consensus recommendation of “Reduce” from the seven brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $1.53.

A number of research analysts have issued reports on the company. Bank of America began coverage on Polestar Automotive Holding UK in a research note on Thursday, December 5th. They set a “neutral” rating and a $1.25 price objective for the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Friday.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado bought a new stake in shares of Polestar Automotive Holding UK in the second quarter worth approximately $26,000. MetLife Investment Management LLC grew its position 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 during the period. Captrust Financial Advisors raised 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 buying an additional 25,930 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Polestar Automotive Holding UK by 153.1% during the 2nd quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock valued at $119,000 after buying an additional 91,139 shares during the period. Finally, Scientech Research LLC purchased a new position in shares of Polestar Automotive Holding UK in the 2nd quarter worth $161,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ PSNY opened at $1.09 on Monday. The company has a 50 day simple moving average of $1.10 and a two-hundred day simple moving average of $1.14. Polestar Automotive Holding UK has a fifty-two week low of $0.61 and a fifty-two week high of $2.33. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -1.91 and a beta of 1.53.

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.