Polestar Automotive Holding UK (NASDAQ:PSNY) Earns “Overweight” Rating from Cantor Fitzgerald

Polestar Automotive Holding UK (NASDAQ:PSNY)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $3.00 price target on the stock. Cantor Fitzgerald’s price target points to a potential upside of 72.41% from the company’s current price.

A number of other research firms have also issued reports on PSNY. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 price objective on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Sanford C. Bernstein boosted their price target on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a report on Friday, August 30th. Piper Sandler dropped their price objective on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, Barclays reduced their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1.58.

Polestar Automotive Holding UK Stock Up 12.3 %

PSNY opened at $1.74 on Monday. Polestar Automotive Holding UK has a 12-month low of $0.61 and a 12-month high of $2.94. The firm’s fifty day moving average price is $1.04 and its 200 day moving average price is $1.12.

Polestar Automotive Holding UK (NASDAQ:PSNY) last issued its earnings results on Wednesday, August 14th. The company reported ($0.35) EPS for the quarter. The firm had revenue of $534.12 million during the quarter. As a group, research analysts predict that Polestar Automotive Holding UK will post -0.53 EPS for the current year.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of institutional investors and hedge funds have recently modified their holdings of PSNY. Private Advisor Group LLC raised its position in shares of Polestar Automotive Holding UK by 159.5% during the fourth quarter. Private Advisor Group LLC now owns 62,550 shares of the company’s stock worth $141,000 after purchasing an additional 38,450 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in Polestar Automotive Holding UK during the 2nd quarter worth about $1,321,000. Jump Financial LLC purchased a new stake in Polestar Automotive Holding UK during the fourth quarter valued at about $242,000. Tidal Investments LLC lifted its stake in Polestar Automotive Holding UK by 118.4% during the first quarter. Tidal Investments LLC now owns 241,946 shares of the company’s stock valued at $373,000 after buying an additional 131,167 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Polestar Automotive Holding UK in the second quarter worth about $9,235,000. Institutional investors and hedge funds own 1.02% of the company’s stock.

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.