Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down to $1.34

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $1.34, but opened at $1.30. Polestar Automotive Holding UK shares last traded at $1.29, with a volume of 630,986 shares.

Analysts Set New Price Targets

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

Polestar Automotive Holding UK Stock Down 2.4 %

The company’s 50 day moving average price is $1.58 and its 200-day moving average price is $1.96.

Institutional Trading of Polestar Automotive Holding UK

Several institutional investors have recently made changes to their positions in the company. Green Alpha Advisors LLC grew its stake in shares of 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 acquiring an additional 6,528 shares in the last quarter. Cantor Fitzgerald L. P. bought a new position in Polestar Automotive Holding UK during the fourth quarter valued at about $226,000. Bard Financial Services Inc. grew its position in Polestar Automotive Holding UK by 57.1% during the fourth quarter. Bard Financial Services Inc. now owns 27,500 shares of the company’s stock valued at $62,000 after buying an additional 10,000 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Polestar Automotive Holding UK by 136.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,344 shares of the company’s stock valued at $55,000 after buying an additional 14,048 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Polestar Automotive Holding UK by 67.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 288,172 shares of the company’s stock valued at $608,000 after buying an additional 116,207 shares during the period. Institutional investors own 1.02% of the company’s stock.

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.