Polestar Automotive Holding UK (NASDAQ:PSNY) Receives Overweight Rating from Cantor Fitzgerald

Polestar Automotive Holding UK (NASDAQ:PSNY)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $3.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 72.41% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 target price on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Sanford C. Bernstein upped their price target on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a research note on Friday, August 30th. Piper Sandler dropped their price target on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, Barclays dropped their price target on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 3rd. Two 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $1.58.

Polestar Automotive Holding UK Stock Up 1.2 %

NASDAQ:PSNY opened at $1.74 on Monday. The firm’s 50-day moving average price is $1.15 and its 200-day moving average price is $1.13. Polestar Automotive Holding UK has a 1-year low of $0.61 and a 1-year high of $2.94.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share for the quarter. The firm had revenue of $534.12 million for the quarter. As a group, sell-side analysts predict that Polestar Automotive Holding UK will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ bought a new position in Polestar Automotive Holding UK during the 2nd quarter valued at about $1,321,000. Tidal Investments LLC lifted its stake in Polestar Automotive Holding UK by 118.4% during the 1st quarter. Tidal Investments LLC now owns 241,946 shares of the company’s stock valued at $373,000 after acquiring an additional 131,167 shares during the period. Swedbank AB bought a new position in Polestar Automotive Holding UK during the 2nd quarter valued at about $9,235,000. Cantor Fitzgerald L. P. bought a new position in Polestar Automotive Holding UK during the 4th quarter valued at about $226,000. Finally, DNB Asset Management AS bought a new position in Polestar Automotive Holding UK during the 2nd quarter valued at about $48,000. 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.