Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Up to $1.62

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $1.62, but opened at $1.67. Polestar Automotive Holding UK shares last traded at $1.75, with a volume of 641,459 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald restated an "overweight" rating and set a $5.00 price objective on shares of Polestar Automotive Holding UK in a report on Friday, January 12th. Sanford C. Bernstein started coverage on Polestar Automotive Holding UK in a research report on Wednesday, January 24th. They set an "underperform" rating and a $1.15 price objective for the company. Finally, Piper Sandler reissued a "neutral" rating and set a $2.00 target price (down previously from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.36.

Polestar Automotive Holding UK Trading Up 2.5 %

The firm has a fifty day simple moving average of $1.78 and a 200-day simple moving average of $2.14.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new position in Polestar Automotive Holding UK in the third quarter valued at about $25,000. Principal Street Partners LLC acquired a new position in Polestar Automotive Holding UK in the fourth quarter valued at approximately $28,000. Tower Research Capital LLC TRC acquired a new position in shares of Polestar Automotive Holding UK during the third quarter worth approximately $28,000. Avantax Advisory Services Inc. acquired a new position in shares of Polestar Automotive Holding UK during the third quarter worth approximately $34,000. Finally, Schechter Investment Advisors LLC acquired a new position in shares of Polestar Automotive Holding UK during the fourth quarter worth approximately $35,000. 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.