Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives Consensus Rating of "Hold" from Analysts

Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) has been given a consensus recommendation of "Hold" by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $4.36.

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Polestar Automotive Holding UK in a research report on Wednesday, January 24th. They set an "underperform" rating and a $1.15 target price for the company. Piper Sandler restated a "neutral" rating and set a $2.00 target price (down previously from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $5.00 target price on shares of Polestar Automotive Holding UK in a research report on Friday, January 12th.

Polestar Automotive Holding UK Price Performance

Polestar Automotive Holding UK stock traded down $0.06 on Friday, reaching $1.54. The company's stock had a trading volume of 2,201,193 shares, compared to its average volume of 2,088,852. The business's fifty day moving average price is $1.76 and its 200 day moving average price is $2.10. Polestar Automotive Holding UK has a twelve month low of $1.30 and a twelve month high of $4.96.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in Polestar Automotive Holding UK by 10.7% in the third quarter. Invesco Ltd. now owns 2,833,547 shares of the company's stock valued at $7,481,000 after buying an additional 273,479 shares during the period. Rafferty Asset Management LLC increased its position in shares of Polestar Automotive Holding UK by 18.7% during the third quarter. Rafferty Asset Management LLC now owns 62,999 shares of the company's stock worth $166,000 after acquiring an additional 9,942 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Polestar Automotive Holding UK by 24.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 574,550 shares of the company's stock worth $1,517,000 after acquiring an additional 112,900 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Polestar Automotive Holding UK during the third quarter worth about $34,000. Finally, Pathstone Family Office LLC increased its position in shares of Polestar Automotive Holding UK by 87.8% during the third quarter. Pathstone Family Office LLC now owns 84,510 shares of the company's stock worth $223,000 after acquiring an additional 39,510 shares in the last quarter. Institutional investors and hedge funds own 1.02% of the company's stock.

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.