Polestar Automotive Holding UK PLC (NASDAQ:PSNY – Get Free Report)’s share price fell 5.4% during trading on Friday . The company traded as low as $1.29 and last traded at $1.40. 3,197,763 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 7,862,009 shares. The stock had previously closed at $1.48.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on PSNY. Barclays decreased their target price on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a report on Wednesday, July 3rd. Sanford C. Bernstein boosted their price objective 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 cut 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 note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 target price on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $1.58.
Get Our Latest Stock Report on PSNY
Polestar Automotive Holding UK Price Performance
Polestar Automotive Holding UK (NASDAQ:PSNY – Get Free Report) last issued 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. As a group, sell-side analysts expect that Polestar Automotive Holding UK PLC will post -0.53 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Polestar Automotive Holding UK by 77.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock worth $25,000 after purchasing an additional 13,624 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Polestar Automotive Holding UK in the second quarter worth $26,000. SG Americas Securities LLC acquired a new stake in Polestar Automotive Holding UK in the second quarter valued at $32,000. Versor Investments LP bought a new position in Polestar Automotive Holding UK during the 2nd quarter valued at $47,000. Finally, DNB Asset Management AS acquired a new position in Polestar Automotive Holding UK during the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.
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.
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