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

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have been assigned a consensus rating of “Reduce” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $1.53.

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Bank of America initiated coverage on shares of Polestar Automotive Holding UK in a report on Thursday, December 5th. They set a “neutral” rating and a $1.25 price objective for the company. Piper Sandler dropped their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Finally, Sanford C. Bernstein lifted their price target on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a report on Friday, August 30th.

Polestar Automotive Holding UK Stock Down 5.3 %

PSNY stock opened at $0.86 on Thursday. The firm has a market cap of $1.83 billion, a PE ratio of -1.50 and a beta of 1.53. The business has a 50 day moving average of $1.17 and a 200-day moving average of $1.09. Polestar Automotive Holding UK has a 12-month low of $0.61 and a 12-month high of $2.56.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its stake in shares of Polestar Automotive Holding UK by 78.3% in the 3rd quarter. Tidal Investments LLC now owns 468,741 shares of the company’s stock valued at $806,000 after purchasing an additional 205,890 shares in the last quarter. Geode Capital Management LLC lifted its stake in Polestar Automotive Holding UK by 444.0% in the third quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock worth $1,471,000 after purchasing an additional 697,820 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Polestar Automotive Holding UK in the third quarter worth $468,000. XTX Topco Ltd boosted its position in Polestar Automotive Holding UK by 91.5% during the third quarter. XTX Topco Ltd now owns 288,564 shares of the company’s stock valued at $496,000 after buying an additional 137,907 shares during the period. Finally, Captrust Financial Advisors grew its stake in shares of Polestar Automotive Holding UK by 125.4% during the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock valued at $80,000 after buying an additional 25,930 shares during the last quarter. 1.02% of the stock is currently owned by institutional investors.

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.