Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Up 3.2% – Still a Buy?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price traded up 3.2% during mid-day trading on Wednesday . The company traded as high as $1.17 and last traded at $1.14. 2,534,567 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 5,357,852 shares. The stock had previously closed at $1.10.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PSNY shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.00 target price on shares of Polestar Automotive Holding UK in a report on Monday, September 30th. Bank of America began coverage on Polestar Automotive Holding UK in a research note on Thursday, December 5th. They issued a “neutral” rating and a $1.25 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1.53.

Polestar Automotive Holding UK Stock Up 3.6 %

The business’s fifty day moving average is $1.10 and its two-hundred day moving average is $1.13. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -2.02 and a beta of 1.53.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Institutional investors and hedge funds have recently made changes to their positions in the company. MetLife Investment Management LLC raised its position in shares of Polestar Automotive Holding UK by 134.4% in the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock valued at $26,000 after acquiring an additional 8,823 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at approximately $26,000. Captrust Financial Advisors lifted its stake in Polestar Automotive Holding UK by 125.4% in the 3rd 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 in the last quarter. XTX Topco Ltd boosted its position in Polestar Automotive Holding UK by 153.1% during the 2nd quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock worth $119,000 after acquiring an additional 91,139 shares during the last quarter. Finally, Scientech Research LLC bought a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth approximately $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.