Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives Average Rating of “Reduce” from Brokerages

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have received an average recommendation of “Reduce” from the seven research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $1.53.

Several research firms recently commented on PSNY. Bank of America assumed coverage on Polestar Automotive Holding UK in a report on Thursday, December 5th. They set a “neutral” rating and a $1.25 target price on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Friday, January 17th.

Polestar Automotive Holding UK Price Performance

NASDAQ PSNY opened at $1.07 on Friday. Polestar Automotive Holding UK has a 1 year low of $0.61 and a 1 year high of $2.17. The company has a market capitalization of $2.28 billion, a PE ratio of -1.88 and a beta of 1.52. The company has a fifty day moving average of $1.07 and a 200 day moving average of $1.15.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in Polestar Automotive Holding UK by 444.0% in the 3rd quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock valued at $1,471,000 after acquiring an additional 697,820 shares during the period. Marshall Wace LLP acquired a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at about $407,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Polestar Automotive Holding UK during the fourth quarter worth about $504,000. Renaissance Technologies LLC purchased a new stake in shares of Polestar Automotive Holding UK during the second quarter worth about $266,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Polestar Automotive Holding UK during the 3rd quarter worth about $468,000. 1.02% of the stock is owned by institutional investors and hedge funds.

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.