Cantor Fitzgerald Reiterates Overweight Rating for Polestar Automotive Holding UK (NASDAQ:PSNY)

Polestar Automotive Holding UK (NASDAQ:PSNY)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $5.00 target price on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 452.67% from the company’s previous close.

Several other equities research analysts have also weighed in on PSNY. Citigroup reduced their price objective on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating for the company in a research note on Thursday, May 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $2.00 target price (down previously from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.48.

Polestar Automotive Holding UK Price Performance

PSNY opened at $0.90 on Monday. The business has a fifty day simple moving average of $0.97 and a 200-day simple moving average of $1.51. Polestar Automotive Holding UK has a fifty-two week low of $0.65 and a fifty-two week high of $4.96.

Institutional Trading of Polestar Automotive Holding UK

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC increased its stake in shares of Polestar Automotive Holding UK by 118.4% in the first quarter. Tidal Investments LLC now owns 241,946 shares of the company’s stock worth $373,000 after purchasing an additional 131,167 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Polestar Automotive Holding UK by 32.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,336 shares of the company’s stock worth $218,000 after purchasing an additional 34,827 shares during the period. Green Alpha Advisors LLC increased its stake in shares of Polestar Automotive Holding UK by 2.4% in the first quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock worth $430,000 after purchasing an additional 6,528 shares during the period. Cantor Fitzgerald L. P. bought a new position in shares of Polestar Automotive Holding UK in the fourth quarter worth about $226,000. Finally, Bard Financial Services Inc. increased its stake in Polestar Automotive Holding UK by 57.1% during the fourth 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 period. Institutional investors and hedge funds 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.