Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Down 4% - What's Next?

Key Points

• Stock fell 4% intraday to $16.9850 (low $16.95) with 98,732 shares traded, a roughly 60% drop versus the average session volume of 244,005.
• Analyst sentiment is negative — one Hold and two Sell ratings (including a Cantor Fitzgerald downgrade to "underweight") giving the stock an average rating of "Sell".
• Company fundamentals show a market cap of $1.22 billion and a negative P/E of -0.87, a 50-day SMA of $17.82 versus a 200-day SMA of $393.96, and very low institutional ownership at 1.02%.

Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report)'s stock price fell 4% during mid-day trading on Wednesday . The company traded as low as $16.95 and last traded at $16.9850. 98,732 shares traded hands during trading, a decline of 60% from the average session volume of 244,005 shares. The stock had previously closed at $17.70.

Analyst Ratings Changes

PSNY has been the subject of several recent research reports. Cantor Fitzgerald cut Polestar Automotive Holding UK from a "neutral" rating to an "underweight" rating in a research note on Thursday, February 19th. Weiss Ratings restated a "sell (e+)" rating on shares of Polestar Automotive Holding UK in a research note on Monday, December 29th. Finally, Zacks Research raised Polestar Automotive Holding UK from a "strong sell" rating to a "hold" rating in a report on Monday, January 12th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Sell".

Polestar Automotive Holding UK Stock Performance

The stock has a fifty day simple moving average of $17.82 and a two-hundred day simple moving average of $393.96. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -0.87 and a beta of 1.23.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new stake in Polestar Automotive Holding UK during the 2nd quarter worth $326,000. Bank of America Corp DE raised its position in Polestar Automotive Holding UK by 128.7% in the third quarter. Bank of America Corp DE now owns 164,594 shares of the company's stock valued at $155,000 after purchasing an additional 92,621 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Polestar Automotive Holding UK by 99.1% during the second quarter. Rafferty Asset Management LLC now owns 106,630 shares of the company's stock valued at $114,000 after purchasing an additional 53,086 shares in the last quarter. Cresset Asset Management LLC grew its holdings in shares of Polestar Automotive Holding UK by 26.7% during the second quarter. Cresset Asset Management LLC now owns 83,504 shares of the company's stock worth $89,000 after purchasing an additional 17,590 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Polestar Automotive Holding UK by 43.2% in the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company's stock valued at $63,000 after buying an additional 17,700 shares during the period. 1.02% of the stock is currently owned by institutional investors and hedge funds.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC NASDAQ: PSNY is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.

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