Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $1.58 Average Target Price from Analysts

Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) has earned an average rating of "Reduce" from the six ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $1.58.

A number of brokerages have recently commented on PSNY. Sanford C. Bernstein lifted 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 report on Friday, August 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $3.00 target price on shares of Polestar Automotive Holding UK in a report on Monday, September 30th. Barclays lowered their price target on Polestar Automotive Holding UK from $2.00 to $1.00 and set an "underweight" rating on the stock in a report on Wednesday, July 3rd. Piper Sandler reduced their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $1.50 target price on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th.

Polestar Automotive Holding UK Stock Down 7.9 %

Polestar Automotive Holding UK stock traded down $0.10 during mid-day trading on Wednesday, hitting $1.16. The company had a trading volume of 4,238,180 shares, compared to its average volume of 7,643,259. Polestar Automotive Holding UK has a 1 year low of $0.61 and a 1 year high of $2.65. The business has a fifty day moving average of $1.42 and a 200 day moving average of $1.11. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -2.10 and a beta of 1.48.

Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. The firm had revenue of $534.12 million for the quarter. Equities analysts anticipate that Polestar Automotive Holding UK will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PSNY. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth $1,321,000. Tidal Investments LLC grew its position in Polestar Automotive Holding UK by 118.4% during the first quarter. Tidal Investments LLC now owns 241,946 shares of the company's stock worth $373,000 after buying an additional 131,167 shares during the period. Swedbank AB purchased a new position in Polestar Automotive Holding UK in the second quarter valued at about $9,235,000. DNB Asset Management AS purchased a new position in Polestar Automotive Holding UK in the second quarter valued at about $48,000. Finally, Marshall Wace LLP acquired a new stake in shares of Polestar Automotive Holding UK during the 2nd quarter valued at approximately $407,000. Hedge funds and other 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.