Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Up to $1.37

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) gapped up before the market opened on Wednesday . The stock had previously closed at $1.37, but opened at $1.40. Polestar Automotive Holding UK shares last traded at $1.23, with a volume of 4,027,362 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler reduced their target price on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup reduced their target price on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a report on Friday, August 30th. Sanford C. Bernstein boosted their price objective on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a report on Friday, August 30th. Finally, Barclays cut their price target on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $1.60.

Polestar Automotive Holding UK Trading Down 10.9 %

The company has a fifty day simple moving average of $0.86 and a two-hundred day simple moving average of $1.14.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. The firm had revenue of $534.12 million during the quarter. As a group, equities analysts expect that Polestar Automotive Holding UK PLC will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PSNY. Green Alpha Advisors LLC boosted its position in shares of Polestar Automotive Holding UK by 2.4% in the 1st quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock valued at $430,000 after purchasing an additional 6,528 shares during the period. Bard Financial Services Inc. raised its stake in Polestar Automotive Holding UK by 57.1% during the 4th quarter. Bard Financial Services Inc. now owns 27,500 shares of the company’s stock valued at $62,000 after acquiring an additional 10,000 shares during the last quarter. Principal Street Partners LLC purchased a new stake in Polestar Automotive Holding UK during the 4th quarter valued at approximately $28,000. Harel Insurance Investments & Financial Services Ltd. raised its stake 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 valued at $25,000 after acquiring an additional 13,624 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Polestar Automotive Holding UK by 136.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,344 shares of the company’s stock valued at $55,000 after acquiring an additional 14,048 shares during the last quarter. 1.02% of the stock is owned by institutional investors and hedge funds.

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.