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

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has received an average rating of “Reduce” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $1.53.

Several research analysts have commented on PSNY shares. Bank of America started coverage on shares of 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 reaffirmed a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Friday, January 17th.

Polestar Automotive Holding UK Stock Performance

Shares of PSNY opened at $1.07 on Tuesday. The company’s fifty day moving average is $1.09 and its 200 day moving average is $1.20. Polestar Automotive Holding UK has a fifty-two week low of $0.61 and a fifty-two week high of $1.94. The stock has a market capitalization of $2.28 billion, a PE ratio of -1.88 and a beta of 1.52.

Institutional Trading of Polestar Automotive Holding UK

A number of large investors have recently made changes to their positions in PSNY. Advisors Asset Management Inc. boosted its stake in shares of Polestar Automotive Holding UK by 953.5% during the third quarter. Advisors Asset Management Inc. now owns 246,553 shares of the company’s stock valued at $424,000 after purchasing an additional 223,150 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Polestar Automotive Holding UK by 31.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 319,508 shares of the company’s stock valued at $550,000 after purchasing an additional 77,106 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Polestar Automotive Holding UK by 134.4% during the third quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock valued at $26,000 after purchasing an additional 8,823 shares during the period. Captrust Financial Advisors boosted its stake in shares of Polestar Automotive Holding UK by 125.4% during the third 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 period. Finally, XTX Topco Ltd boosted its stake in shares of Polestar Automotive Holding UK by 91.5% during the third quarter. XTX Topco Ltd now owns 288,564 shares of the company’s stock valued at $496,000 after purchasing an additional 137,907 shares during the period. 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.