Polestar Automotive Holding UK (NASDAQ:PSNY) Given “Overweight” Rating at Cantor Fitzgerald

Polestar Automotive Holding UK (NASDAQ:PSNY)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $3.00 target price on the stock. Cantor Fitzgerald’s target price points to a potential upside of 92.31% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. 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 note on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 price objective on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Sanford C. Bernstein upped their target price on 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 reduced their price target on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a 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 issued a buy rating to the company. Based on data from MarketBeat.com, Polestar Automotive Holding UK has a consensus rating of “Hold” and an average target price of $1.58.

Polestar Automotive Holding UK Stock Up 2.6 %

Shares of PSNY stock traded up $0.04 on Monday, reaching $1.56. 2,789,980 shares of the company were exchanged, compared to its average volume of 8,061,056. Polestar Automotive Holding UK has a 1 year low of $0.61 and a 1 year high of $2.94. The business has a 50-day moving average price of $1.03 and a 200 day moving average price of $1.13.

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

Institutional Trading of Polestar Automotive Holding UK

Several institutional investors and hedge funds have recently bought and sold shares of PSNY. Harel Insurance Investments & Financial Services Ltd. raised its stake 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 acquiring an additional 13,624 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at approximately $26,000. SG Americas Securities LLC acquired a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at $32,000. Versor Investments LP purchased a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter valued at $47,000. Finally, DNB Asset Management AS purchased a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter valued at $48,000. 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.