Polestar Automotive Holding UK (NASDAQ:PSNY) Given New $0.78 Price Target at Sanford C. Bernstein
Sanford C. Bernstein has raised the price target for Polestar Automotive Holding UK (NASDAQ:PSNY) from $2.74 to $2.78, maintaining an "underperform" rating. This new target indicates a potential downside of 33.92% from its current value. Other analysts, including Citigroup and Barclays, have also lowered their price objectives, resulting in an average rating of "Hold". The stock traded at $2.18 recently, with a 52-week range between $1.61 and $3.88. Investors remain cautious about its performance following recent earnings reports.
Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report) had its price target raised by analysts at Sanford C. Bernstein from $0.74 to $0.78 in a research report issued on Friday, Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Sanford C. Bernstein's price target suggests a potential downside of 33.92% from the company's current price.
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Several other equities research analysts have also recently commented on the company. Citigroup dropped their price objective on Polestar Automotive Holding UK from $2.50 to $1.70 and set a "neutral" rating on the stock in a research report on Thursday, May 16th. Barclays dropped their target price on Polestar Automotive Holding UK from $2.00 to $1.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 3rd. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $3.00 target price on shares of Polestar Automotive Holding UK in a research report on Friday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $1.70.
Get Our Latest Analysis on PSNY
Polestar Automotive Holding UK Price Performance
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Shares of NASDAQ:PSNY traded up $0.11 on Friday, hitting $1.18. 8,745,146 shares of the company traded hands, compared to its average volume of 7,842,928. Polestar Automotive Holding UK has a 52 week low of $0.61 and a 52 week high of $3.88. The stock has a 50 day simple moving average of $0.83 and a 200-day simple moving average of $1.16.
Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.35) EPS for the quarter. The company had revenue of $534.12 million during the quarter. As a group, equities analysts expect that Polestar Automotive Holding UK will post -0.57 EPS for the current fiscal year.
Institutional Inflows and Outflows
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A number of large investors have recently made changes to their positions in the stock. Green Alpha Advisors LLC lifted its position in shares of Polestar Automotive Holding UK by 2.4% during the 1st quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company's stock valued at $430,000 after buying an additional 6,528 shares in the last quarter. Raymond James & Associates lifted its position in shares of Polestar Automotive Holding UK by 36.5% during the 4th quarter. Raymond James & Associates now owns 29,532 shares of the company's stock valued at $67,000 after buying an additional 7,900 shares in the last quarter. Bard Financial Services Inc. raised its stake in Polestar Automotive Holding UK by 57.1% during the 4th quarter. Bard Financial Services Inc. now owns 27,500 shares of the company's stock valued at $62,000 after purchasing an additional 10,000 shares during the period. Principal Street Partners LLC bought a new stake in Polestar Automotive Holding UK during the 4th quarter valued at approximately $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Polestar Automotive Holding UK by 77.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company's stock valued at $25,000 after purchasing an additional 13,624 shares during the period. 1.02% of the stock is owned by hedge funds and other institutional investors.
About Polestar Automotive Holding UK
(Get Free Report)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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