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

Polestar Automotive Holding UK (NASDAQ:PSNY)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $3.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 71.43% from the stock’s current price.

Several other analysts have also recently issued reports on PSNY. Barclays lowered their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft restated 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. Piper Sandler lowered their price objective on shares of 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. Finally, Sanford C. Bernstein raised their price objective on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a research report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Polestar Automotive Holding UK currently has an average rating of “Hold” and an average target price of $1.58.

Polestar Automotive Holding UK Stock Performance

NASDAQ PSNY traded down $0.08 on Monday, hitting $1.75. The stock had a trading volume of 3,133,868 shares, compared to its average volume of 8,013,190. Polestar Automotive Holding UK has a 52-week low of $0.61 and a 52-week high of $2.94. The firm has a 50-day moving average of $1.11 and a 200-day moving average of $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted its earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. The business had revenue of $534.12 million for the quarter. Analysts predict that Polestar Automotive Holding UK will post -0.53 earnings per share 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. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Polestar Automotive Holding UK by 77.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock valued at $25,000 after purchasing an additional 13,624 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Polestar Automotive Holding UK in the 2nd quarter worth $26,000. SG Americas Securities LLC bought a new stake in Polestar Automotive Holding UK in the 2nd quarter worth $32,000. Versor Investments LP bought a new stake in Polestar Automotive Holding UK in the 2nd quarter worth $47,000. Finally, DNB Asset Management AS bought a new stake in Polestar Automotive Holding UK in the 2nd quarter worth $48,000. Institutional investors own 1.02% of the company’s stock.

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.