Polestar Automotive Holding UK (NASDAQ:PSNY) Now Covered by Analysts at Bank of America

Bank of America initiated coverage on shares of Polestar Automotive Holding UK (NASDAQ:PSNY) in a research report report published on Thursday, MarketBeat reports. The firm issued a neutral rating and a $1.25 target price on the stock.

PSNY has been the subject of several other research reports. Piper Sandler lowered their price objective on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 target price on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.00 target price on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th. Finally, Sanford C. Bernstein increased their target price on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Polestar Automotive Holding UK currently has a consensus rating of “Hold” and an average price target of $1.53.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ:PSNY opened at $1.07 on Thursday. The firm has a fifty day moving average price of $1.29 and a 200 day moving average price of $1.08. Polestar Automotive Holding UK has a fifty-two week low of $0.61 and a fifty-two week high of $2.65. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -1.88 and a beta of 1.53.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PSNY. Swedbank AB bought a new position in Polestar Automotive Holding UK during the 2nd quarter worth about $9,235,000. Tredje AP fonden bought a new position in Polestar Automotive Holding UK during the 2nd quarter worth about $3,091,000. Skandinaviska Enskilda Banken AB publ bought a new position in Polestar Automotive Holding UK during the 2nd quarter worth about $1,321,000. Geode Capital Management LLC grew its holdings in Polestar Automotive Holding UK by 444.0% during the 3rd quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock worth $1,471,000 after acquiring an additional 697,820 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in Polestar Automotive Holding UK during the 2nd quarter worth about $518,000. Hedge funds and other 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.