Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Down 4.1% – Should You Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares fell 4.1% during mid-day trading on Monday . The stock traded as low as $1.16 and last traded at $1.17. 1,552,296 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 4,921,491 shares. The stock had previously closed at $1.22.

Analyst Ratings Changes

Several analysts recently commented on PSNY shares. Deutsche Bank Aktiengesellschaft reissued 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. Bank of America assumed coverage on shares of Polestar Automotive Holding UK in a research report on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1.53.

Polestar Automotive Holding UK Price Performance

The company has a market cap of $2.37 billion, a P/E ratio of -1.95 and a beta of 1.53. The stock’s 50-day moving average is $1.10 and its two-hundred day moving average is $1.13.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several institutional investors have recently made changes to their positions in PSNY. Public Employees Retirement Association of Colorado purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth $26,000. MetLife Investment Management LLC lifted its position in Polestar Automotive Holding UK by 134.4% during the third quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock valued at $26,000 after purchasing an additional 8,823 shares in the last quarter. Captrust Financial Advisors increased its position in Polestar Automotive Holding UK by 125.4% in the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after buying an additional 25,930 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Polestar Automotive Holding UK by 153.1% in the second quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock worth $119,000 after buying an additional 91,139 shares during the period. Finally, Scientech Research LLC bought a new position in shares of Polestar Automotive Holding UK in the second quarter worth about $161,000. Institutional investors 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.