Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $1.53 Consensus Price Target from Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have received a consensus recommendation of “Reduce” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $1.53.

Several research firms have recently weighed in on PSNY. Bank of America assumed coverage on shares of Polestar Automotive Holding UK in a report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 price target for the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Friday.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Tidal Investments LLC boosted its position in Polestar Automotive Holding UK by 78.3% during the third quarter. Tidal Investments LLC now owns 468,741 shares of the company’s stock worth $806,000 after purchasing an additional 205,890 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Polestar Automotive Holding UK by 444.0% during the 3rd quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock worth $1,471,000 after buying an additional 697,820 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Polestar Automotive Holding UK in the 3rd quarter valued at about $468,000. XTX Topco Ltd raised its holdings in Polestar Automotive Holding UK by 91.5% in the 3rd quarter. XTX Topco Ltd now owns 288,564 shares of the company’s stock valued at $496,000 after acquiring an additional 137,907 shares during the period. Finally, Captrust Financial Advisors lifted its position in Polestar Automotive Holding UK by 125.4% during the third 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 last quarter. 1.02% of the stock is owned by institutional investors and hedge funds.

Polestar Automotive Holding UK Stock Performance

Shares of PSNY opened at $1.09 on Monday. The stock has a 50 day simple moving average of $1.09 and a 200 day simple moving average of $1.14. Polestar Automotive Holding UK has a 52-week low of $0.61 and a 52-week high of $2.33. The firm has a market capitalization of $2.33 billion, a PE ratio of -1.91 and a beta of 1.53.

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.