Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Given Average Recommendation of "Hold" by Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) have received an average rating of "Hold" from the six research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.31.

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Several research analysts have commented on PSNY shares. Cantor Fitzgerald reissued an "overweight" rating and set a $5.00 target price on shares of Polestar Automotive Holding UK in a research note on Monday, July 1st. Piper Sandler reiterated a "neutral" rating and issued a $2.00 target price (down from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Barclays cut their price target on 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, Citigroup cut their price target on Polestar Automotive Holding UK from $2.50 to $1.70 and set a "neutral" rating on the stock in a report on Thursday, May 16th.

Check Out Our Latest Analysis on PSNY

Polestar Automotive Holding UK Price Performance

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Shares of Polestar Automotive Holding UK stock opened at $0.97 on Monday. The firm has a 50-day moving average of $0.96 and a 200-day moving average of $1.48. Polestar Automotive Holding UK has a 52-week low of $0.65 and a 52-week high of $4.96.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Large investors have recently bought and sold shares of the stock. Private Advisor Group LLC boosted its holdings in Polestar Automotive Holding UK by 159.5% in the fourth quarter. Private Advisor Group LLC now owns 62,550 shares of the company's stock worth $141,000 after acquiring an additional 38,450 shares in the last quarter. Invesco Ltd. increased its position in Polestar Automotive Holding UK by 10.7% in the third quarter. Invesco Ltd. now owns 2,833,547 shares of the company's stock worth $7,481,000 after buying an additional 273,479 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Polestar Automotive Holding UK by 67.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 288,172 shares of the company's stock worth $608,000 after acquiring an additional 116,207 shares during the period. Jump Financial LLC bought a new position in shares of Polestar Automotive Holding UK in the fourth quarter worth about $242,000. Finally, Cantor Fitzgerald L. P. bought a new position in shares of Polestar Automotive Holding UK in the fourth quarter worth about $226,000. 1.02% of the stock is owned by hedge funds and other institutional investors.

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.

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