Polestar Automotive Holding UK (NASDAQ:PSNY) Sees Strong Trading Volume

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares saw strong trading volume on Tuesday . 3,708,704 shares changed hands during mid-day trading, a decline of 54% from the previous session’s volume of 8,014,586 shares.The stock last traded at $1.85 and had previously closed at $1.81.

Analyst Upgrades and Downgrades

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

Polestar Automotive Holding UK Stock Down 4.7 %

The firm’s 50 day moving average price is $1.01 and its two-hundred day moving average price is $1.13.

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

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several institutional investors and hedge funds have recently made changes to their positions in PSNY. Vanguard Personalized Indexing Management LLC raised its holdings in Polestar Automotive Holding UK by 136.4% in 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Polestar Automotive Holding UK by 77.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock valued at $25,000 after buying an additional 13,624 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in Polestar Automotive Holding UK in the second quarter valued at approximately $26,000. SG Americas Securities LLC acquired a new position in Polestar Automotive Holding UK during the 2nd quarter valued at approximately $32,000. Finally, Versor Investments LP bought a new position in shares of Polestar Automotive Holding UK during the second quarter worth about $47,000. 1.02% of the stock is currently owned by hedge funds and other 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.