Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.40.

Several brokerages recently weighed in on PSNY. Cantor Fitzgerald reissued an "overweight" rating and set a $6.00 price target on shares of Polestar Automotive Holding UK in a research report on Friday, September 1st. Piper Sandler assumed coverage on Polestar Automotive Holding UK in a research note on Wednesday, November 1st. They issued an "overweight" rating and a $3.00 price target for the company. Finally, Barclays dropped their price objective on Polestar Automotive Holding UK from $3.00 to $2.00 and set an "underweight" rating on the stock in a research report on Tuesday, November 14th.

Institutional Trading of Polestar Automotive Holding UK

Several large investors have recently modified their holdings of the company. Cetera Advisor Networks LLC increased its position in shares of Polestar Automotive Holding UK by 5.9% during the 1st quarter. Cetera Advisor Networks LLC now owns 40,880 shares of the company's stock valued at $465,000 after purchasing an additional 2,280 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Polestar Automotive Holding UK by 45.7% in the third quarter. Commonwealth Equity Services LLC now owns 15,245 shares of the company's stock worth $77,000 after acquiring an additional 4,782 shares during the period. UBS Group AG purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth $46,000. Citigroup Inc. bought a new stake in shares of Polestar Automotive Holding UK during the 1st quarter valued at $59,000. Finally, Private Advisor Group LLC increased its stake in shares of Polestar Automotive Holding UK by 6.1% in the 2nd quarter. Private Advisor Group LLC now owns 122,200 shares of the company's stock worth $467,000 after purchasing an additional 7,000 shares in the last quarter. Institutional investors own 0.82% of the company's stock.

Polestar Automotive Holding UK Stock Performance

Shares of PSNY opened at $2.28 on Thursday. Polestar Automotive Holding UK has a fifty-two week low of $1.98 and a fifty-two week high of $6.59. The firm's 50-day simple moving average is $2.26 and its two-hundred day simple moving average is $3.13.

Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report) last issued its quarterly earnings results on Thursday, November 16th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $613.18 million for the quarter, compared to the consensus estimate of $640.00 million. As a group, equities analysts expect that Polestar Automotive Holding UK will post -0.38 earnings per share for the current fiscal year.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.

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