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

Polestar Automotive Holding UK (NASDAQ:PSNY)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $3.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 72.41% from the company’s previous close.

A number of other equities research analysts have also weighed in on PSNY. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Piper Sandler lowered their price objective on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Sanford C. Bernstein boosted their price objective on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a report on Friday, August 30th. Finally, Barclays lowered their price objective on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Polestar Automotive Holding UK currently has a consensus rating of “Hold” and a consensus target price of $1.58.

Polestar Automotive Holding UK Trading Up 1.2 %

Shares of Polestar Automotive Holding UK stock opened at $1.74 on Monday. Polestar Automotive Holding UK has a 1 year low of $0.61 and a 1 year high of $2.94. The company has a 50 day simple moving average of $1.15 and a two-hundred day simple moving average of $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY) last announced its earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. The business had revenue of $534.12 million for the quarter. As a group, equities research analysts expect that Polestar Automotive Holding UK will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Polestar Automotive Holding UK by 77.3% in the second 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 during the period. Public Employees Retirement Association of Colorado purchased a new position in Polestar Automotive Holding UK during the 2nd quarter valued at $26,000. SG Americas Securities LLC purchased a new position in Polestar Automotive Holding UK during the 2nd quarter valued at $32,000. Versor Investments LP purchased a new position in Polestar Automotive Holding UK during the 2nd quarter valued at $47,000. Finally, DNB Asset Management AS purchased a new position in Polestar Automotive Holding UK during the 2nd quarter valued at $48,000. 1.02% of the stock is owned by hedge funds and other 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.