Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Down 4.8%

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares dropped 4.8% during trading on Monday . The company traded as low as $1.28 and last traded at $1.29. Approximately 1,616,898 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 3,255,711 shares. The stock had previously closed at $1.35.

Analysts Set New Price Targets

PSNY has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of Polestar Automotive Holding UK in a research report on Friday, April 12th. Piper Sandler reissued a “neutral” rating and issued a $2.00 price objective (down previously from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Finally, Sanford C. Bernstein initiated coverage on shares of Polestar Automotive Holding UK in a research report on Wednesday, January 24th. They issued an “underperform” rating and a $1.15 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.83.

Polestar Automotive Holding UK Stock Performance

The firm’s fifty day moving average is $1.59 and its 200 day moving average is $1.97.

Institutional Trading of Polestar Automotive Holding UK

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Polestar Automotive Holding UK by 32.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock worth $47,000 after buying an additional 5,115 shares during the period. Green Alpha Advisors LLC raised its stake in Polestar Automotive Holding UK by 2.4% in the 1st quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock worth $430,000 after purchasing an additional 6,528 shares in the last quarter. Raymond James & Associates raised its stake in Polestar Automotive Holding UK by 36.5% in the 4th quarter. Raymond James & Associates now owns 29,532 shares of the company’s stock worth $67,000 after purchasing an additional 7,900 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Polestar Automotive Holding UK by 18.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 62,999 shares of the company’s stock worth $166,000 after purchasing an additional 9,942 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Polestar Automotive Holding UK in the 3rd quarter worth about $25,000. Institutional investors own 1.02% of the company’s stock.

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.