Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives Average Rating of “Reduce” from Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have earned an average rating of “Reduce” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $1.58.

PSNY has been the topic of several analyst reports. Barclays dropped their price target on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 3rd. Sanford C. Bernstein raised their target price on 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. Piper Sandler reduced their price target on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $1.50 price target on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a report on Monday, September 9th.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Polestar Automotive Holding UK in the second quarter valued at $179,000. Scientech Research LLC purchased a new stake in shares of Polestar Automotive Holding UK during the second quarter valued at $161,000. Marshall Wace LLP purchased a new stake in shares of Polestar Automotive Holding UK during the second quarter valued at $407,000. Public Sector Pension Investment Board acquired a new position in shares of Polestar Automotive Holding UK in the 2nd quarter valued at $193,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Polestar Automotive Holding UK in the second quarter worth approximately $1,321,000. 1.02% of the stock is currently owned by institutional investors.

Polestar Automotive Holding UK Trading Up 11.0 %

Shares of Polestar Automotive Holding UK stock opened at $1.81 on Tuesday. Polestar Automotive Holding UK has a twelve month low of $0.61 and a twelve month high of $2.94. The business’s 50 day simple moving average is $0.98 and its 200-day simple moving average is $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted its earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. The business had revenue of $534.12 million during the quarter. Research analysts anticipate that Polestar Automotive Holding UK will post -0.53 earnings per share for the current fiscal year.

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.