Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Down 5.4% – Should You Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) was down 5.4% during mid-day trading on Wednesday . The stock traded as low as $1.13 and last traded at $1.15. Approximately 1,509,060 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 5,374,996 shares. The stock had previously closed at $1.21.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PSNY. Bank of America initiated coverage on shares of Polestar Automotive Holding UK in a research report on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1.53.

Polestar Automotive Holding UK Trading Down 0.9 %

The business has a 50 day moving average price of $1.10 and a 200 day moving average price of $1.21. The company has a market capitalization of $2.39 billion, a P/E ratio of -1.96 and a beta of 1.49.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several large investors have recently bought and sold shares of PSNY. Swiss National Bank acquired a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at $855,000. Geode Capital Management LLC lifted its holdings in Polestar Automotive Holding UK by 444.0% during the third quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock worth $1,471,000 after acquiring an additional 697,820 shares in the last quarter. Deutsche Bank AG bought a new position in Polestar Automotive Holding UK during the fourth quarter worth about $681,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Polestar Automotive Holding UK in the fourth quarter valued at about $610,000. Finally, Northern Trust Corp bought a new stake in shares of Polestar Automotive Holding UK in the fourth quarter worth about $548,000. 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.