Polestar Automotive Holding UK (NASDAQ:PSNY) Trading 9.9% Higher

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) were up 9.9% during trading on Thursday . The company traded as high as $1.35 and last traded at $1.33. Approximately 1,434,698 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 7,931,044 shares. The stock had previously closed at $1.21.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PSNY shares. Citigroup dropped their target price 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. Piper Sandler dropped their price objective on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday. Barclays reduced their target price on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a research note on Wednesday, July 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $3.00 price target on shares of Polestar Automotive Holding UK in a research report on Friday, August 30th. Finally, Sanford C. Bernstein upped their price target on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Polestar Automotive Holding UK presently has an average rating of “Hold” and an average target price of $1.60.

Polestar Automotive Holding UK Price Performance

The firm has a 50-day moving average price of $0.89 and a 200 day moving average price of $1.14.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.35) EPS for the quarter. The business had revenue of $534.12 million for the quarter. Research analysts expect that Polestar Automotive Holding UK PLC will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of hedge funds and other institutional investors have recently bought and sold shares of PSNY. Green Alpha Advisors LLC grew its position in shares of Polestar Automotive Holding UK by 2.4% during the first quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock worth $430,000 after acquiring an additional 6,528 shares during the last quarter. Bard Financial Services Inc. grew its position in Polestar Automotive Holding UK by 57.1% in the 4th quarter. Bard Financial Services Inc. now owns 27,500 shares of the company’s stock worth $62,000 after purchasing an additional 10,000 shares during the last quarter. Principal Street Partners LLC acquired a new stake in shares of Polestar Automotive Holding UK in the fourth quarter valued at approximately $28,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Polestar Automotive Holding UK by 77.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock valued at $25,000 after buying an additional 13,624 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Polestar Automotive Holding UK by 136.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,344 shares of the company’s stock worth $55,000 after buying an additional 14,048 shares during the period. 1.02% of the stock is currently owned by institutional investors and hedge funds.

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.