Polestar Automotive Holding UK's (PSNY) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Polestar Automotive Holding UK has had its "sell (d-)" rating reaffirmed by Weiss Ratings, indicating ongoing concerns from analysts regarding the company's stock performance.
• A recent report highlights that the average target price for PSNY shares is $1.25, with most analysts rating it as a "Reduce."
• The stock opened at $0.93 on Wednesday, and it has fluctuated between a twelve-month low of $0.84 and a high of $1.62, reflecting market volatility.

Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Polestar Automotive Holding UK from a "hold" rating to a "sell" rating in a research note on Saturday, October 4th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Polestar Automotive Holding UK in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $1.25.

Polestar Automotive Holding UK Stock Up 2.4%

PSNY opened at $0.93 on Wednesday. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -1.63 and a beta of 1.36. Polestar Automotive Holding UK has a twelve month low of $0.84 and a twelve month high of $1.62. The company's 50-day moving average price is $1.05 and its two-hundred day moving average price is $1.06.

Institutional Trading of Polestar Automotive Holding UK

A number of institutional investors have recently modified their holdings of PSNY. SCS Capital Management LLC purchased a new stake in shares of Polestar Automotive Holding UK during the 1st quarter valued at approximately $43,000. Russell Investments Group Ltd. lifted 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 valued at $51,000 after buying an additional 14,877 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Polestar Automotive Holding UK during the 1st quarter valued at approximately $62,000. Captrust Financial Advisors lifted its stake in shares of Polestar Automotive Holding UK by 43.2% during the 2nd 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 in the last quarter. Finally, Cobblestone Asset Management LLC purchased a new stake in shares of Polestar Automotive Holding UK during the 1st quarter valued at approximately $73,000. 1.02% of the stock is currently owned by hedge funds and other 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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