Polestar Automotive Holding UK (NASDAQ:PSNY) Earns Overweight Rating from Cantor Fitzgerald

Polestar Automotive Holding UK (NASDAQ:PSNY)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $5.00 price target on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 488.30% from the company’s current price.

PSNY has been the topic of a number of other research reports. Citigroup reduced their target price on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a report on Thursday, May 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $2.00 target price (down from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.48.

Polestar Automotive Holding UK Trading Up 8.0 %

NASDAQ:PSNY traded up $0.06 during trading hours on Monday, reaching $0.85. 2,246,251 shares of the stock were exchanged, compared to its average volume of 5,845,982. The firm has a 50 day simple moving average of $0.99 and a 200-day simple moving average of $1.53. Polestar Automotive Holding UK has a 52 week low of $0.65 and a 52 week high of $4.96.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSNY. Invesco Ltd. boosted its stake in Polestar Automotive Holding UK by 10.7% during the 3rd quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock valued at $7,481,000 after purchasing an additional 273,479 shares in the last quarter. Mariner LLC boosted its stake in Polestar Automotive Holding UK by 207.5% during the 3rd quarter. Mariner LLC now owns 252,901 shares of the company’s stock valued at $668,000 after purchasing an additional 170,660 shares in the last quarter. Green Alpha Advisors LLC bought a new position in Polestar Automotive Holding UK during the 4th quarter valued at $616,000. Raymond James & Associates boosted its stake in Polestar Automotive Holding UK by 36.5% during the 4th quarter. Raymond James & Associates now owns 29,532 shares of the company’s stock valued at $67,000 after purchasing an additional 7,900 shares in the last quarter. Finally, Schechter Investment Advisors LLC bought a new position in Polestar Automotive Holding UK during the 4th quarter valued at $35,000. 1.02% of the stock is owned by institutional investors.

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.