Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Down 9.1%

Polestar Automotive Holding UK PLC (NASDAQ:PSNYGet Free Report)’s stock price dropped 9.1% during trading on Tuesday . The stock traded as low as $0.83 and last traded at $0.83. Approximately 9,223,488 shares were traded during trading, an increase of 48% from the average daily volume of 6,226,943 shares. The stock had previously closed at $0.92.

Wall Street Analyst Weigh In

PSNY has been the topic of several recent research reports. Piper Sandler reiterated a “neutral” rating and set a $2.00 target price (down from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 target price on shares of Polestar Automotive Holding UK in a research report on Monday. Barclays cut their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, Citigroup cut their target price on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Two 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.31.

Get Our Latest Stock Analysis on Polestar Automotive Holding UK

Polestar Automotive Holding UK Trading Down 1.6 %

The firm’s fifty day simple moving average is $0.97 and its 200-day simple moving average is $1.51.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PSNY. Invesco Ltd. raised its holdings in Polestar Automotive Holding UK by 10.7% during the 3rd quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock worth $7,481,000 after purchasing an additional 273,479 shares during the last quarter. Mariner LLC increased its stake in shares of Polestar Automotive Holding UK by 207.5% in the 3rd quarter. Mariner LLC now owns 252,901 shares of the company’s stock valued at $668,000 after acquiring an additional 170,660 shares in the last quarter. Green Alpha Advisors LLC bought a new stake in shares of Polestar Automotive Holding UK in the 4th quarter valued at $616,000. Raymond James & Associates increased its stake in shares of Polestar Automotive Holding UK by 36.5% in the 4th quarter. Raymond James & Associates now owns 29,532 shares of the company’s stock valued at $67,000 after acquiring an additional 7,900 shares in the last quarter. Finally, Schechter Investment Advisors LLC bought a new stake in shares of Polestar Automotive Holding UK in the 4th quarter valued at $35,000. Institutional investors own 1.02% of the company’s stock.

About Polestar Automotive Holding UK

(Get Free Report)

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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