Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives Consensus Recommendation of “Reduce” from Analysts

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has received an average rating of “Reduce” from the seven analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $1.53.

Several research firms have recently issued reports on PSNY. Bank of America started coverage on Polestar Automotive Holding UK in a research note on Thursday, December 5th. They issued a “neutral” rating and a $1.25 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.00 price objective on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th.

Polestar Automotive Holding UK Trading Up 3.6 %

Shares of NASDAQ:PSNY opened at $1.15 on Monday. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -2.02 and a beta of 1.53. Polestar Automotive Holding UK has a 12 month low of $0.61 and a 12 month high of $2.33. The company has a 50-day moving average price of $1.10 and a 200 day moving average price of $1.14.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC increased its stake in shares of Polestar Automotive Holding UK by 134.4% during the third quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock valued at $26,000 after buying an additional 8,823 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in Polestar Automotive Holding UK during the 2nd quarter valued at about $26,000. Captrust Financial Advisors raised its holdings in shares of Polestar Automotive Holding UK by 125.4% in the 3rd quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock valued at $80,000 after purchasing an additional 25,930 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Polestar Automotive Holding UK by 153.1% in the 2nd quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock valued at $119,000 after purchasing an additional 91,139 shares in the last quarter. Finally, Scientech Research LLC bought a new position in shares of Polestar Automotive Holding UK during the second quarter valued at approximately $161,000. Institutional investors own 1.02% of the company’s stock.

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.