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

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have been assigned an average rating of “Reduce” from the six analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $1.58.

A number of analysts recently commented on PSNY shares. Piper Sandler lowered their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Sanford C. Bernstein lifted their price objective on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 target price on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Finally, 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 30th.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ PSNY opened at $1.14 on Friday. Polestar Automotive Holding UK has a fifty-two week low of $0.61 and a fifty-two week high of $2.65. The company has a market cap of $2.43 billion, a PE ratio of -2.00 and a beta of 1.54. The business has a 50-day simple moving average of $1.39 and a two-hundred day simple moving average of $1.09.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC lifted its position in 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 purchasing an additional 8,823 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake 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 buying an additional 13,624 shares during the last quarter. Captrust Financial Advisors lifted 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 buying an additional 25,930 shares during the period. Public Employees Retirement Association of Colorado purchased a new stake in shares of Polestar Automotive Holding UK in the second quarter worth about $26,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Polestar Automotive Holding UK by 32.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,336 shares of the company’s stock worth $218,000 after buying an additional 34,827 shares during the last quarter. Institutional investors and hedge funds 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.