Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Given Consensus Rating of “Reduce” by Analysts

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has been assigned a consensus recommendation of “Reduce” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $1.58.

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th. Sanford C. Bernstein boosted their price target 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Piper Sandler lowered their target price on shares of 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. Finally, Barclays cut 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.

Institutional Trading of Polestar Automotive Holding UK

Several institutional investors and hedge funds have recently bought and sold shares of PSNY. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Polestar Automotive Holding UK by 71.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 242,402 shares of the company’s stock valued at $191,000 after purchasing an additional 101,066 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Polestar Automotive Holding UK during the second quarter valued at $179,000. Scientech Research LLC purchased a new position in Polestar Automotive Holding UK during the second quarter worth about $161,000. Marshall Wace LLP bought a new position in Polestar Automotive Holding UK in the 2nd quarter worth about $407,000. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter valued at about $193,000. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Price Performance

Polestar Automotive Holding UK stock opened at $1.69 on Friday. The firm has a 50 day moving average price of $1.20 and a 200-day moving average price of $1.14. Polestar Automotive Holding UK has a twelve month low of $0.61 and a twelve month high of $2.91.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released 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 during the quarter. On average, research analysts predict that Polestar Automotive Holding UK will post -0.53 EPS for the current fiscal year.

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.