Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Up 5.9% - What's Next?

Key Points

• Shares of Polestar (NASDAQ:PSNY) jumped about 5.9% intraday to a high of $18.15 and last traded at $17.70, with 140,385 shares changing hands — roughly 7% below the stock's average session volume and up from a prior close of $16.71.
• Analysts are largely negative: MarketBeat shows an average rating of Sell (two Sell, one Hold), with recent downgrades including Zacks to "strong sell" and cuts from Wall Street Zen and Weiss Ratings.
• Polestar — with a market cap of about $39.8 billion and a negative trailing PE (~-28.6) — will execute a 1-for-30 reverse split, with shares adjusted after the close on Dec. 29 and the split effective Dec. 30.

Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) shares shot up 5.9% during mid-day trading on Tuesday . The company traded as high as $18.15 and last traded at $17.70. 140,385 shares traded hands during trading, a decline of 7% from the average session volume of 150,882 shares. The stock had previously closed at $16.7130.

Analysts Set New Price Targets

Several analysts recently weighed in on PSNY shares. Cantor Fitzgerald restated a "neutral" rating on shares of Polestar Automotive Holding UK in a report on Thursday, September 4th. Weiss Ratings reissued a "sell (e+)" rating on shares of Polestar Automotive Holding UK in a research report on Tuesday, November 25th. Zacks Research cut shares of Polestar Automotive Holding UK from a "hold" rating to a "strong sell" rating in a research report on Friday, November 14th. Finally, Wall Street Zen lowered shares of Polestar Automotive Holding UK from a "hold" rating to a "sell" rating in a report on Saturday, October 4th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Polestar Automotive Holding UK has an average rating of "Sell".

Polestar Automotive Holding UK Trading Up 10.9%

The stock has a market cap of $39.75 billion, a PE ratio of -28.56 and a beta of 1.38. The business's 50-day moving average price is $0.76 and its 200-day moving average price is $0.96.

Polestar Automotive Holding UK's stock is going to reverse split on Tuesday, December 30th. The 1-30 reverse split was announced on Monday, November 17th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 29th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its stake in shares of Polestar Automotive Holding UK by 45.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company's stock worth $51,000 after acquiring an additional 14,877 shares in the last quarter. Cresset Asset Management LLC raised its holdings in Polestar Automotive Holding UK by 26.7% in the 2nd 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 period. Captrust Financial Advisors boosted its position in Polestar Automotive Holding UK by 43.2% during the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company's stock worth $63,000 after purchasing an additional 17,700 shares in the last quarter. Rathbones Group PLC boosted its position in Polestar Automotive Holding UK by 79.1% during the third quarter. Rathbones Group PLC now owns 45,285 shares of the company's stock worth $43,000 after purchasing an additional 20,000 shares in the last quarter. Finally, SCS Capital Management LLC acquired a new stake in Polestar Automotive Holding UK in the first quarter valued at approximately $43,000. 1.02% of the stock is owned by institutional investors and hedge funds.

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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