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

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have earned an average rating of “Reduce” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $1.58.

Several equities analysts recently weighed in on PSNY shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 price objective on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.00 price target on shares of Polestar Automotive Holding UK in a report on Monday, September 30th. Barclays lowered 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. Piper Sandler lowered their price target on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, Sanford C. Bernstein increased their price target 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PSNY. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Polestar Automotive Holding UK by 77.3% during the second 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 period. Public Employees Retirement Association of Colorado bought a new position in shares of Polestar Automotive Holding UK in the second quarter valued at about $26,000. SG Americas Securities LLC bought a new position in shares of Polestar Automotive Holding UK in the second quarter valued at about $32,000. Versor Investments LP bought a new position in shares of Polestar Automotive Holding UK in the second quarter valued at about $47,000. Finally, DNB Asset Management AS bought a new position in shares of Polestar Automotive Holding UK in the second quarter valued at about $48,000. 1.02% of the stock is owned by institutional investors.

Polestar Automotive Holding UK Price Performance

NASDAQ PSNY opened at $1.26 on Wednesday. The company has a 50 day simple moving average of $1.42 and a 200-day simple moving average of $1.11. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -2.21 and a beta of 1.48. Polestar Automotive Holding UK has a 52-week low of $0.61 and a 52-week high of $2.65.

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 company had revenue of $534.12 million for the quarter. On average, analysts predict that Polestar Automotive Holding UK will post -0.53 EPS 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.