Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Up 6.3% – What’s Next?

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shot up 6.3% during mid-day trading on Thursday . The company traded as high as $0.92 and last traded at $0.91. 700,196 shares changed hands during trading, a decline of 90% from the average session volume of 7,228,287 shares. The stock had previously closed at $0.86.

Analysts Set New Price Targets

PSNY has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 price target on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Piper Sandler decreased 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 research report on Wednesday, September 4th. Bank of America assumed coverage on shares of Polestar Automotive Holding UK in a research note on Thursday, December 5th. They issued a “neutral” rating and a $1.25 price objective on the stock. Finally, Sanford C. Bernstein lifted their target price on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Polestar Automotive Holding UK has an average rating of “Hold” and an average target price of $1.53.

Polestar Automotive Holding UK Trading Up 5.3 %

The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -1.58 and a beta of 1.53. The company’s 50 day simple moving average is $1.17 and its 200-day simple moving average is $1.09.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PSNY. Public Employees Retirement Association of Colorado purchased a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at $26,000. MetLife Investment Management LLC grew its holdings in Polestar Automotive Holding UK by 134.4% in the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock valued at $26,000 after buying an additional 8,823 shares during the period. SG Americas Securities LLC acquired a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at about $32,000. Versor Investments LP purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth about $47,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Polestar Automotive Holding UK by 125.4% during the 3rd quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after acquiring an additional 25,930 shares during the period. 1.02% of the stock is currently owned by institutional investors and hedge funds.

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.