Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Up 5.2%

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price rose 5.2% during mid-day trading on Monday . The stock traded as high as $1.74 and last traded at $1.72. Approximately 5,008,945 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 8,011,696 shares. The stock had previously closed at $1.63.

Wall Street Analyst Weigh In

PSNY has been the subject of several analyst reports. Piper Sandler dropped their target price on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 price target on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Barclays lowered their price target on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a report on Wednesday, July 3rd. Sanford C. Bernstein increased their price target on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $1.58.

Polestar Automotive Holding UK Price Performance

The stock has a fifty day moving average price of $1.01 and a two-hundred day moving average price of $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its earnings results on Wednesday, August 14th. The company reported ($0.35) EPS for the quarter. The company had revenue of $534.12 million during the quarter. Equities research analysts anticipate that Polestar Automotive Holding UK PLC will post -0.53 EPS for the current year.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several institutional investors have recently added to or reduced their stakes in the business. Green Alpha Advisors LLC grew its position in Polestar Automotive Holding UK by 2.4% during the first quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock valued at $430,000 after acquiring an additional 6,528 shares during the period. Bard Financial Services Inc. grew its position in Polestar Automotive Holding UK by 57.1% during the fourth quarter. Bard Financial Services Inc. now owns 27,500 shares of the company’s stock valued at $62,000 after acquiring an additional 10,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its position in Polestar Automotive Holding UK by 77.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock valued at $25,000 after acquiring an additional 13,624 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in 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 valued at $55,000 after acquiring an additional 14,048 shares during the period. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Polestar Automotive Holding UK during the second quarter valued at about $26,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

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.