Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Up 7.7% - What's Next?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report)'s share price rose 7.7% during trading on Friday . The company traded as high as $1.21 and last traded at $1.19. 1,367,670 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 7,350,221 shares. The stock had previously closed at $1.10.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PSNY. Piper Sandler lowered 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 note on Wednesday, September 4th. Sanford C. Bernstein upped their target price on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an "underperform" rating in a research report on Friday, August 30th. Cantor Fitzgerald reiterated 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. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $1.50 price target on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $1.58.

Polestar Automotive Holding UK Price Performance

The firm's 50-day moving average price is $1.39 and its 200 day moving average price is $1.09. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -2.00 and a beta of 1.54.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC boosted its stake in shares of Polestar Automotive Holding UK by 134.4% during the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company's stock worth $26,000 after purchasing an additional 8,823 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of 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 valued at $25,000 after buying an additional 13,624 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in Polestar Automotive Holding UK during the second quarter worth approximately $26,000. SG Americas Securities LLC purchased a new stake in Polestar Automotive Holding UK in the 2nd quarter worth approximately $32,000. Finally, Captrust Financial Advisors raised its holdings in 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 acquiring an additional 25,930 shares during the last quarter. 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.