Polestar Automotive Holding UK (NASDAQ:PSNY) Cut to "Sell" at Wall Street Zen

Key Points

• Polestar Automotive Holding UK has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, reflecting negative sentiment in the market.
• The consensus rating on Polestar is currently "Reduce" with a target price of $1.25, indicating that analysts are cautious about the stock's potential for growth.
• Despite the downgrade, Polestar's stock increased by 1.4% to open at $0.96, while institutional investors have started to increase their stakes in the company.

Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

PSNY has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Polestar Automotive Holding UK in a research note on Thursday, September 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Polestar Automotive Holding UK in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Polestar Automotive Holding UK currently has a consensus rating of "Reduce" and a consensus target price of $1.25.

Polestar Automotive Holding UK Trading Up 1.4%

Polestar Automotive Holding UK stock opened at $0.96 on Friday. Polestar Automotive Holding UK has a 1-year low of $0.84 and a 1-year high of $1.74. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -1.69 and a beta of 1.36. The firm's fifty day moving average price is $1.05 and its two-hundred day moving average price is $1.06.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Polestar Automotive Holding UK during the 4th quarter valued at $610,000. California State Teachers Retirement System bought a new stake in Polestar Automotive Holding UK during the 4th quarter valued at $406,000. The Manufacturers Life Insurance Company bought a new stake in Polestar Automotive Holding UK during the 2nd quarter valued at $326,000. Advisors Asset Management Inc. raised its holdings in Polestar Automotive Holding UK by 61.2% during the 1st quarter. Advisors Asset Management Inc. now owns 449,227 shares of the company's stock valued at $472,000 after buying an additional 170,563 shares during the last quarter. Finally, Quadrature Capital Ltd raised its holdings in Polestar Automotive Holding UK by 224.7% during the 2nd quarter. Quadrature Capital Ltd now owns 241,593 shares of the company's stock valued at $260,000 after buying an additional 167,196 shares during the last quarter. 1.02% of the stock is currently owned by institutional investors.

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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