Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Up to $0.70

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $0.70, but opened at $0.72. Polestar Automotive Holding UK shares last traded at $0.71, with a volume of 780,025 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSNY. Piper Sandler reissued a “neutral” rating and issued a $2.00 target price (down previously from $3.00) on shares of Polestar Automotive Holding UK in a research note on Friday, March 15th. Citigroup lowered their price objective on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a research note on Thursday, May 16th. Finally, Cantor Fitzgerald restated 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. Two 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.48.

Polestar Automotive Holding UK Stock Performance

The company’s fifty day moving average price is $1.05 and its two-hundred day moving average price is $1.59.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Institutional investors and hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale bought a new stake in shares of Polestar Automotive Holding UK during the third quarter valued at approximately $25,000. Principal Street Partners LLC bought a new position in Polestar Automotive Holding UK in the 4th quarter valued at $28,000. Schechter Investment Advisors LLC bought a new position in Polestar Automotive Holding UK in the 4th quarter valued at $35,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Polestar Automotive Holding UK by 32.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock valued at $47,000 after buying an additional 5,115 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Polestar Automotive Holding UK by 136.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,344 shares of the company’s stock worth $55,000 after acquiring an additional 14,048 shares during the last quarter. Institutional investors and hedge funds 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.