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

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have earned a consensus recommendation of “Reduce” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $1.53.

Several equities analysts have recently issued reports on PSNY shares. 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 target on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Friday, January 17th.

Polestar Automotive Holding UK Price Performance

Shares of NASDAQ:PSNY opened at $1.08 on Friday. Polestar Automotive Holding UK has a 1 year low of $0.61 and a 1 year high of $1.94. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -1.89 and a beta of 1.49. The company’s 50 day simple moving average is $1.09 and its 200 day simple moving average is $1.21.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System bought a new stake in shares of Polestar Automotive Holding UK during the fourth quarter worth about $406,000. Public Employees Retirement System of Ohio bought a new position in shares of Polestar Automotive Holding UK during the fourth quarter valued at $104,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Polestar Automotive Holding UK during the fourth quarter worth $610,000. Vident Advisory LLC bought a new stake in shares of Polestar Automotive Holding UK in the fourth quarter worth $178,000. Finally, Nuveen Asset Management LLC acquired a new stake in Polestar Automotive Holding UK in the fourth quarter valued at $347,000. 1.02% of the stock is currently owned by institutional investors.

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.