Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives Average Recommendation of "Moderate Buy" from Brokerages

Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $5.20.

PSNY has been the topic of a number of analyst reports. Piper Sandler initiated coverage on shares of Polestar Automotive Holding UK in a research report on Wednesday, November 1st. They set an "overweight" rating and a $3.00 target price on the stock. Barclays cut their price objective on shares of Polestar Automotive Holding UK from $3.00 to $2.00 and set an "underweight" rating on the stock in a report on Tuesday, November 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $5.00 price objective on shares of Polestar Automotive Holding UK in a report on Friday.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Waterford Advisors LLC acquired a new stake in Polestar Automotive Holding UK during the second quarter worth about $46,000. Quinn Opportunity Partners LLC boosted its position in Polestar Automotive Holding UK by 50.0% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 270,000 shares of the company's stock worth $1,031,000 after purchasing an additional 90,000 shares during the period. Veritable L.P. purchased a new stake in Polestar Automotive Holding UK during the 2nd quarter worth $52,000. US Bancorp DE boosted its position in Polestar Automotive Holding UK by 11.3% during the 2nd quarter. US Bancorp DE now owns 132,297 shares of the company's stock worth $505,000 after purchasing an additional 13,384 shares during the period. Finally, Private Advisor Group LLC boosted its position in Polestar Automotive Holding UK by 6.1% during 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 during the period. 0.82% of the stock is currently owned by institutional investors and hedge funds.

Polestar Automotive Holding UK Price Performance

Shares of PSNY stock opened at $1.68 on Monday. The firm has a 50-day moving average price of $2.18 and a 200 day moving average price of $2.95. Polestar Automotive Holding UK has a twelve month low of $1.66 and a twelve month high of $6.59.

Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report) last posted its quarterly earnings data on Thursday, November 16th. The company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.01. The firm had revenue of $613.18 million during the quarter, compared to analyst estimates of $640.00 million. Equities analysts predict that Polestar Automotive Holding UK will post -0.38 earnings per share 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.

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