Polestar Automotive Holding UK (NASDAQ:PSNY) Price Target Cut to $1.00 by Analysts at Barclays

Polestar Automotive Holding UK (NASDAQ:PSNY) had its price objective decreased by Barclays from $2.00 to $1.00 in a research note released on Wednesday morning, Benzinga reports. Barclays currently has an underweight rating on the stock.

PSNY has been the subject of several other reports. Piper Sandler reissued a neutral rating and set a $2.00 price objective (down from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Cantor Fitzgerald reissued an overweight rating and set a $5.00 price objective on shares of Polestar Automotive Holding UK in a report on Monday. Finally, Citigroup decreased their price objective on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a neutral rating for the company in a report on Thursday, May 16th. Two equities 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, the company currently has a consensus rating of Hold and a consensus price target of $3.31.

Polestar Automotive Holding UK Price Performance

Shares of PSNY stock opened at $0.89 on Wednesday. Polestar Automotive Holding UK has a 1-year low of $0.65 and a 1-year high of $4.96. The firm has a fifty day moving average of $0.97 and a two-hundred day moving average of $1.51.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Private Advisor Group LLC lifted its position in shares of Polestar Automotive Holding UK by 159.5% in the 4th quarter. Private Advisor Group LLC now owns 62,550 shares of the company’s stock worth $141,000 after buying an additional 38,450 shares during the last quarter. Invesco Ltd. lifted its position in Polestar Automotive Holding UK by 10.7% in 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 during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Polestar Automotive Holding UK by 67.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 288,172 shares of the company’s stock valued at $608,000 after purchasing an additional 116,207 shares during the last quarter. Jump Financial LLC bought a new stake in Polestar Automotive Holding UK in the 4th quarter valued at about $242,000. Finally, Cantor Fitzgerald L. P. bought a new stake in Polestar Automotive Holding UK in the 4th quarter valued at about $226,000. 1.02% of the stock is currently owned by 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.