Cantor Fitzgerald Reaffirms “Overweight” Rating for Polestar Automotive Holding UK (NASDAQ:PSNY)

Cantor Fitzgerald restated their overweight rating on shares of Polestar Automotive Holding UK (NASDAQ:PSNY) in a research note released on Monday, Benzinga reports. Cantor Fitzgerald currently has a $3.00 price target on the stock.

A number of other brokerages have also issued reports on PSNY. Piper Sandler decreased their target price on shares of 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. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Barclays reduced 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, Sanford C. Bernstein lifted their price target on 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 investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $1.58.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ:PSNY opened at $1.71 on Monday. Polestar Automotive Holding UK has a 52-week low of $0.61 and a 52-week high of $2.94. The stock’s fifty day simple moving average is $1.06 and its 200-day simple moving average is $1.13.

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

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of large investors have recently modified their holdings of PSNY. Green Alpha Advisors LLC increased its position in 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 worth $430,000 after purchasing an additional 6,528 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Polestar Automotive Holding UK by 77.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock worth $25,000 after acquiring an additional 13,624 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Polestar Automotive Holding UK by 136.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,344 shares of the company’s stock valued at $55,000 after acquiring an additional 14,048 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at $26,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Polestar Automotive Holding UK by 32.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,336 shares of the company’s stock worth $218,000 after purchasing an additional 34,827 shares during the period. 1.02% of the stock is currently 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.