Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $1.53 Consensus Price Target from Brokerages

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) have been given a consensus rating of "Reduce" by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $1.53.

A number of equities research analysts recently commented on the company. Bank of America assumed coverage on Polestar Automotive Holding UK in a research report on Thursday, December 5th. They set a "neutral" rating and a $1.25 price target on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $3.00 price target on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tredje AP fonden acquired a new position in Polestar Automotive Holding UK in the 2nd quarter valued at $3,091,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Polestar Automotive Holding UK during the second quarter worth $1,321,000. Geode Capital Management LLC lifted its holdings in shares of Polestar Automotive Holding UK by 444.0% during the third quarter. Geode Capital Management LLC now owns 854,999 shares of the company's stock worth $1,471,000 after buying an additional 697,820 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Polestar Automotive Holding UK during the second quarter worth $407,000. Finally, Tidal Investments LLC lifted its holdings in shares of Polestar Automotive Holding UK by 78.3% during the third quarter. Tidal Investments LLC now owns 468,741 shares of the company's stock worth $806,000 after buying an additional 205,890 shares in the last quarter. 1.02% of the stock is currently owned by institutional investors.

Polestar Automotive Holding UK Price Performance

Shares of PSNY traded down $0.14 during mid-day trading on Monday, reaching $1.09. The company had a trading volume of 11,066,801 shares, compared to its average volume of 6,689,566. Polestar Automotive Holding UK has a twelve month low of $0.61 and a twelve month high of $2.33. The company's 50-day moving average is $1.10 and its 200-day moving average is $1.14. The company has a market capitalization of $2.32 billion, a P/E ratio of -1.90 and a beta of 1.53.

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.