Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down to $1.31

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $1.31, but opened at $1.26. Polestar Automotive Holding UK shares last traded at $1.30, with a volume of 504,907 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Sanford C. Bernstein assumed 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. Piper Sandler reiterated a “neutral” rating and issued a $2.00 price objective (down previously from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of Polestar Automotive Holding UK in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.83.

Polestar Automotive Holding UK Trading Up 1.5 %

The firm has a fifty day moving average price of $1.61 and a two-hundred day moving average price of $2.01.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of Polestar Automotive Holding UK by 10.7% during the third quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock valued at $7,481,000 after buying an additional 273,479 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Polestar Automotive Holding UK by 18.7% during the third quarter. Rafferty Asset Management LLC now owns 62,999 shares of the company’s stock valued at $166,000 after buying an additional 9,942 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Polestar Automotive Holding UK by 24.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 574,550 shares of the company’s stock valued at $1,517,000 after buying an additional 112,900 shares during the last quarter. Schechter Investment Advisors LLC purchased a new stake in shares of Polestar Automotive Holding UK during the fourth quarter valued at $35,000. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of Polestar Automotive Holding UK during the third quarter valued at $34,000. 1.02% of the stock is currently owned by institutional investors.

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.