Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Down 7.2% - Should You Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) traded down 7.2% during mid-day trading on Monday . The company traded as low as $1.03 and last traded at $1.03. 1,090,870 shares were traded during trading, a decline of 85% from the average session volume of 7,185,292 shares. The stock had previously closed at $1.11.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $1.50 target price on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a report on Monday, September 30th. Bank of America initiated coverage on Polestar Automotive Holding UK in a research report on Thursday, December 5th. They set a "neutral" rating and a $1.25 target price for the company. Finally, Piper Sandler dropped their price objective on Polestar Automotive Holding UK from $2.00 to $1.50 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $1.53.

Polestar Automotive Holding UK Trading Down 3.6 %

The firm's 50 day moving average price is $1.13 and its two-hundred day moving average price is $1.11. The company has a market capitalization of $2.28 billion, a P/E ratio of -1.88 and a beta of 1.53.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PSNY. MetLife Investment Management LLC increased its holdings 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 worth $26,000 after buying an additional 8,823 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth 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 during the period. Versor Investments LP acquired a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at about $47,000. Finally, XTX Topco Ltd grew its holdings in Polestar Automotive Holding UK by 153.1% during the second quarter. XTX Topco Ltd now owns 150,657 shares of the company's stock worth $119,000 after purchasing an additional 91,139 shares during the period. 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.