Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down – Here’s What Happened

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) gapped down prior to trading on Thursday . The stock had previously closed at $1.22, but opened at $1.09. Polestar Automotive Holding UK shares last traded at $1.06, with a volume of 3,553,861 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSNY. Cantor Fitzgerald reiterated a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Friday. Bank of America initiated coverage on shares of Polestar Automotive Holding UK in a research report on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target on the stock. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $1.53.

Polestar Automotive Holding UK Stock Up 0.5 %

The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -1.91 and a beta of 1.53. The company’s fifty day simple moving average is $1.09 and its 200 day simple moving average is $1.14.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Institutional investors have recently made changes to their positions in the company. MetLife Investment Management LLC lifted its holdings in Polestar Automotive Holding UK by 134.4% during the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock worth $26,000 after purchasing an additional 8,823 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Polestar Automotive Holding UK during the second quarter worth $26,000. Captrust Financial Advisors boosted its position in shares of Polestar Automotive Holding UK by 125.4% in the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock valued at $80,000 after acquiring an additional 25,930 shares during the period. XTX Topco Ltd boosted its position in shares of Polestar Automotive Holding UK by 153.1% in the second quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock valued at $119,000 after acquiring an additional 91,139 shares during the period. Finally, Scientech Research LLC bought a new position in Polestar Automotive Holding UK during the second quarter worth about $161,000. 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.