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

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has been assigned an average recommendation of “Reduce” from the five research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $1.60.

Several research firms recently commented on PSNY. Sanford C. Bernstein upped their price target on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a research report on Friday, August 30th. Barclays decreased their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a research note on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 price target on shares of Polestar Automotive Holding UK in a research report on Tuesday. Citigroup lowered 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 note on Thursday, May 16th. Finally, 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.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PSNY. Green Alpha Advisors LLC increased its stake in 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 in the last quarter. Bard Financial Services Inc. raised its stake in shares of 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 worth $62,000 after buying an additional 10,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Polestar Automotive Holding UK by 77.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock worth $25,000 after buying an additional 13,624 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Polestar Automotive Holding UK by 136.4% in 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. Finally, Public Employees Retirement Association of Colorado acquired a new position in Polestar Automotive Holding UK during the second quarter worth about $26,000. 1.02% of the stock is owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Trading Up 8.0 %

Shares of PSNY stock opened at $1.49 on Tuesday. The firm has a fifty day moving average price of $0.91 and a 200 day moving average price of $1.13. Polestar Automotive Holding UK has a 12 month low of $0.61 and a 12 month high of $2.97.

Polestar Automotive Holding UK (NASDAQ:PSNY) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.35) earnings per share for the quarter. The firm had revenue of $534.12 million for the quarter. On average, sell-side analysts expect that Polestar Automotive Holding UK will post -0.53 earnings per share for the current year.

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.