Polestar Automotive Holding UK (NASDAQ:PSNY) Sets New 1-Year Low at $1.26

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $1.26 and last traded at $1.27, with a volume of 2196707 shares. The stock had previously closed at $1.46.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PSNY shares. Sanford C. Bernstein started coverage on Polestar Automotive Holding UK in a report on Wednesday, January 24th. They issued an “underperform” rating and a $1.15 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of Polestar Automotive Holding UK in a report on Friday, April 12th. Finally, Piper Sandler restated a “neutral” rating and set a $2.00 target price (down from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.83.

Polestar Automotive Holding UK Price Performance

The firm has a fifty day simple moving average of $1.63 and a two-hundred day simple moving average of $2.02.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Cetera Advisor Networks LLC raised its position in shares of Polestar Automotive Holding UK by 5.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 40,880 shares of the company’s stock worth $465,000 after acquiring an additional 2,280 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Polestar Automotive Holding UK by 45.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,245 shares of the company’s stock worth $77,000 after acquiring an additional 4,782 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Polestar Automotive Holding UK by 32.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock worth $47,000 after acquiring an additional 5,115 shares in the last quarter. UBS Group AG bought a new position in shares of Polestar Automotive Holding UK in the 2nd quarter worth approximately $46,000. Finally, Citigroup Inc. bought a new position in shares of Polestar Automotive Holding UK in the 1st quarter worth approximately $59,000. 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.