Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Down 5.8%

Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report)'s share price was down 5.8% on Tuesday . The stock traded as low as $1.62 and last traded at $1.62. Approximately 664,405 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 7,989,883 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

Several research analysts have recently weighed in on PSNY shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $1.50 price target on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Barclays reduced their price target on shares of 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a report on Monday. Sanford C. Bernstein upped 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 report on Friday, August 30th. Finally, Piper Sandler reduced their price target on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a "neutral" rating for the company in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $1.58.

Polestar Automotive Holding UK Stock Up 1.2 %

The stock's 50-day moving average price is $1.15 and its 200 day moving average price is $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.35) EPS for the quarter. The firm had revenue of $534.12 million for the quarter. On average, research analysts forecast that Polestar Automotive Holding UK PLC will post -0.53 EPS for the current year.

Institutional Trading of Polestar Automotive Holding UK

A number of institutional investors have recently made changes to their positions in PSNY. Harel Insurance Investments & Financial Services Ltd. raised its position in Polestar Automotive Holding UK by 77.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company's stock worth $25,000 after acquiring an additional 13,624 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Polestar Automotive Holding UK during the second quarter worth $26,000. SG Americas Securities LLC bought a new stake in Polestar Automotive Holding UK during the second quarter worth $32,000. Versor Investments LP bought a new stake in Polestar Automotive Holding UK during the second quarter worth $47,000. Finally, DNB Asset Management AS bought a new stake in Polestar Automotive Holding UK during the second quarter worth $48,000. 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.