Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Up 5.2%

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shot up 5.2% during mid-day trading on Monday . The stock traded as high as $1.74 and last traded at $1.72. 5,008,945 shares were traded during mid-day trading, a decline of 37% from the average session volume of 8,011,696 shares. The stock had previously closed at $1.63.

Analyst Ratings Changes

A number of analysts recently issued reports on PSNY shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 price objective on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Piper Sandler lowered their price target on 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a report on Monday, September 9th. Barclays reduced their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a report on Wednesday, July 3rd. Finally, Sanford C. Bernstein lifted their price target on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Polestar Automotive Holding UK has a consensus rating of “Hold” and an average price target of $1.58.

Polestar Automotive Holding UK Price Performance

The firm has a 50-day moving average price of $0.96 and a 200-day moving average price of $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY) last announced its earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share for the quarter. The business had revenue of $534.12 million for the quarter. On average, research analysts expect that Polestar Automotive Holding UK PLC will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Polestar Automotive Holding UK by 77.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock worth $25,000 after purchasing an additional 13,624 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Polestar Automotive Holding UK in the 2nd quarter worth about $26,000. SG Americas Securities LLC purchased a new stake in shares of Polestar Automotive Holding UK during the 2nd quarter valued at about $32,000. Versor Investments LP bought a new stake in shares of Polestar Automotive Holding UK in the second quarter worth approximately $47,000. Finally, DNB Asset Management AS bought a new position in Polestar Automotive Holding UK during the second quarter valued at approximately $48,000. Institutional investors own 1.02% of the company’s stock.

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.