Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $1.53 Average Price Target from Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have received a consensus rating of “Reduce” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $1.53.

Several research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Polestar Automotive Holding UK in a report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 target price on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 target price on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Sanford C. Bernstein boosted their price target on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a report on Friday, August 30th. Piper Sandler decreased their price objective 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th.

Institutional Trading of Polestar Automotive Holding UK

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new stake in Polestar Automotive Holding UK during the second quarter valued at about $26,000. MetLife Investment Management LLC increased its position 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 in the last quarter. SG Americas Securities LLC purchased a new position in Polestar Automotive Holding UK in the second quarter valued at approximately $32,000. Versor Investments LP acquired a new position in Polestar Automotive Holding UK during the second quarter valued at approximately $47,000. Finally, Captrust Financial Advisors grew its stake in Polestar Automotive Holding UK by 125.4% during the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after buying an additional 25,930 shares during the period. 1.02% of the stock is currently owned by institutional investors and hedge funds.

Polestar Automotive Holding UK Stock Performance

Polestar Automotive Holding UK stock opened at $1.09 on Thursday. Polestar Automotive Holding UK has a fifty-two week low of $0.61 and a fifty-two week high of $2.56. The stock has a fifty day moving average of $1.14 and a two-hundred day moving average of $1.10. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -1.91 and a beta of 1.53.

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.