Polestar Automotive Holding UK (NASDAQ:PSNY) Price Target Cut to $1.50

Polestar Automotive Holding UK (NASDAQ:PSNY) had its price objective trimmed by Piper Sandler from $2.00 to $1.50 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts also recently commented on the stock. Citigroup cut their price objective on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a neutral rating for the company in a research report on Thursday, May 16th. Barclays cut their price target on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an underweight rating for the company in a report on Wednesday, July 3rd. Sanford C. Bernstein lifted their price objective on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an underperform rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $1.60.

Polestar Automotive Holding UK Price Performance

Shares of Polestar Automotive Holding UK stock opened at $1.38 on Wednesday. Polestar Automotive Holding UK has a 1 year low of $0.61 and a 1 year high of $3.03. The company’s fifty day moving average is $0.89 and its two-hundred day moving average is $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY) last announced its earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share for the quarter. The business had revenue of $534.12 million during the quarter. On average, sell-side analysts anticipate that Polestar Automotive Holding UK will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. increased its stake in Polestar Automotive Holding UK by 77.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock valued at $25,000 after purchasing an additional 13,624 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth $26,000. Principal Street Partners LLC purchased a new stake in shares of Polestar Automotive Holding UK in the 4th quarter worth about $28,000. SG Americas Securities LLC acquired a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at about $32,000. Finally, Versor Investments LP acquired a new position in Polestar Automotive Holding UK during the second quarter worth about $47,000. 1.02% of the stock is owned by hedge funds and other 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.