Stock Traders Purchase Large Volume of Put Options on Polestar Automotive Holding UK (NASDAQ:PSNY)

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) was the recipient of unusually large options trading activity on Friday. Stock investors bought 6,094 put options on the company. This is an increase of approximately 46% compared to the typical daily volume of 4,181 put options.

Institutional Trading of Polestar Automotive Holding UK

A number of hedge funds have recently modified their holdings of the company. Green Alpha Advisors LLC raised its position in shares of Polestar Automotive Holding UK by 2.4% in the 1st quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock valued at $430,000 after acquiring an additional 6,528 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Polestar Automotive Holding UK by 252.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 78,256 shares of the company’s stock valued at $177,000 after acquiring an additional 56,044 shares during the period. Legal & General Group Plc raised its position in shares of Polestar Automotive Holding UK by 48.1% in the 4th quarter. Legal & General Group Plc now owns 295,507 shares of the company’s stock valued at $669,000 after acquiring an additional 95,939 shares during the period. Cantor Fitzgerald L. P. acquired a new stake in shares of Polestar Automotive Holding UK in the 4th quarter valued at approximately $226,000. Finally, Pathstone Holdings LLC acquired a new stake in shares of Polestar Automotive Holding UK in the 4th quarter valued at approximately $439,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

Polestar Automotive Holding UK Stock Performance

Polestar Automotive Holding UK stock opened at $1.35 on Friday. The company’s 50-day moving average is $1.60 and its two-hundred day moving average is $2.00. Polestar Automotive Holding UK has a 1 year low of $1.24 and a 1 year high of $4.96.

Wall Street Analysts Forecast Growth

PSNY has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price objective on shares of Polestar Automotive Holding UK in a report on Friday, April 12th. Sanford C. Bernstein began coverage on shares of Polestar Automotive Holding UK in a research report on Wednesday, January 24th. They set an “underperform” rating and a $1.15 target price on the stock. 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 research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.83.

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.