Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Given Consensus Recommendation of "Reduce" by Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) have received an average rating of "Reduce" from the seven research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $1.53.

PSNY has been the subject of a number of recent research reports. 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. Bank of America began coverage on shares of Polestar Automotive Holding UK in a research note on Thursday, December 5th. They issued a "neutral" rating and a $1.25 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Sanford C. Bernstein boosted 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 research report on Friday, August 30th. Finally, Piper Sandler dropped their price objective 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.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tredje AP fonden bought a new stake in shares of Polestar Automotive Holding UK during the second quarter valued at approximately $3,091,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Polestar Automotive Holding UK during the 2nd quarter worth $1,321,000. Geode Capital Management LLC boosted its position in Polestar Automotive Holding UK by 444.0% in the 3rd quarter. Geode Capital Management LLC now owns 854,999 shares of the company's stock valued at $1,471,000 after buying an additional 697,820 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter valued at $407,000. Finally, Tidal Investments LLC raised its position in shares of Polestar Automotive Holding UK by 78.3% during the third quarter. Tidal Investments LLC now owns 468,741 shares of the company's stock worth $806,000 after acquiring an additional 205,890 shares during the last quarter. Institutional investors and hedge funds own 1.02% of the company's stock.

Polestar Automotive Holding UK Trading Up 9.3 %

NASDAQ PSNY traded up $0.08 on Thursday, reaching $0.94. The company's stock had a trading volume of 6,540,964 shares, compared to its average volume of 7,254,004. Polestar Automotive Holding UK has a 52 week low of $0.61 and a 52 week high of $2.56. The firm has a market cap of $2.00 billion, a PE ratio of -1.64 and a beta of 1.53. The business has a 50-day moving average price of $1.16 and a 200 day moving average price of $1.09.

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.