Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Down 4.4% – Should You Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares fell 4.4% on Wednesday . The company traded as low as $1.04 and last traded at $1.05. 3,556,800 shares were traded during trading, a decline of 43% from the average session volume of 6,248,733 shares. The stock had previously closed at $1.10.

Analyst Upgrades and Downgrades

PSNY has been the topic of a number of research reports. Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Friday, January 17th. Bank of America started coverage on Polestar Automotive Holding UK in a report on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target on the stock. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1.53.

Polestar Automotive Holding UK Price Performance

The firm has a market cap of $2.22 billion, a P/E ratio of -1.82 and a beta of 1.53. The stock’s 50-day simple moving average is $1.08 and its two-hundred day simple moving average is $1.15.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PSNY. MetLife Investment Management LLC increased its holdings in Polestar Automotive Holding UK by 134.4% during the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock worth $26,000 after purchasing an additional 8,823 shares during the period. Public Employees Retirement Association of Colorado bought a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth $26,000. Captrust Financial Advisors increased its stake in shares of Polestar Automotive Holding UK by 125.4% during the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock valued at $80,000 after buying an additional 25,930 shares during the period. XTX Topco Ltd raised its holdings in shares of Polestar Automotive Holding UK by 153.1% in the second quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock valued at $119,000 after acquiring an additional 91,139 shares in the last quarter. Finally, Scientech Research LLC purchased a new stake in Polestar Automotive Holding UK in the second quarter worth about $161,000. 1.02% of the stock is currently owned by 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.