Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $1.53 Consensus Price Target from Analysts

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has been assigned a consensus rating of “Reduce” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $1.53.

Several brokerages have recently issued reports on PSNY. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a report on Monday, September 30th. Sanford C. Bernstein boosted their target price on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a research note on Friday, August 30th. Piper Sandler dropped their price target 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, Bank of America assumed coverage on shares of Polestar Automotive Holding UK in a research report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 price objective for the company.

Polestar Automotive Holding UK Price Performance

NASDAQ:PSNY opened at $1.08 on Thursday. The company’s fifty day moving average price is $1.15 and its 200-day moving average price is $1.10. Polestar Automotive Holding UK has a 1-year low of $0.61 and a 1-year high of $2.56. The firm has a market capitalization of $2.31 billion, a P/E ratio of -1.89 and a beta of 1.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PSNY. Public Employees Retirement Association of Colorado acquired a new position in shares of Polestar Automotive Holding UK during the second quarter valued at approximately $26,000. MetLife Investment Management LLC lifted its holdings in Polestar Automotive Holding UK by 134.4% in the 3rd 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 in the last quarter. SG Americas Securities LLC acquired a new stake in Polestar Automotive Holding UK during the 2nd quarter worth $32,000. Versor Investments LP purchased a new stake in shares of Polestar Automotive Holding UK during the second quarter worth $47,000. Finally, Captrust Financial Advisors raised its position in shares of Polestar Automotive Holding UK by 125.4% in the third 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 last quarter. 1.02% of the stock is 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.