Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Up 5.2%

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) traded up 5.2% on Monday . The stock traded as high as $1.74 and last traded at $1.72. 5,008,945 shares were traded during trading, a decline of 37% from the average session volume of 8,011,696 shares. The stock had previously closed at $1.63.

Analyst Upgrades and Downgrades

PSNY has been the subject of a number of research analyst reports. Barclays lowered their price target on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a report on Wednesday, July 3rd. Sanford C. Bernstein upped their price target on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a report on Friday, August 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a report on Monday, September 9th. Finally, Piper Sandler cut their price target on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Polestar Automotive Holding UK presently has a consensus rating of “Hold” and a consensus price target of $1.58.

Polestar Automotive Holding UK Stock Performance

The firm has a 50-day moving average of $0.96 and a 200 day moving average of $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.35) earnings per share for the quarter. The firm had revenue of $534.12 million for the quarter. On average, research analysts forecast that Polestar Automotive Holding UK PLC will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AMF Tjanstepension AB grew its position in Polestar Automotive Holding UK by 399.3% in the 2nd quarter. AMF Tjanstepension AB now owns 21,971,866 shares of the company’s stock valued at $17,283,000 after purchasing an additional 17,571,426 shares during the period. Swedbank AB bought a new stake in shares of Polestar Automotive Holding UK during the second quarter worth about $9,235,000. Tredje AP fonden acquired a new position in Polestar Automotive Holding UK during the 2nd quarter valued at about $3,091,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Polestar Automotive Holding UK during the 2nd quarter worth approximately $1,321,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Polestar Automotive Holding UK during the second quarter valued at approximately $518,000. 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.