Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Up 5.3% – Time to Buy?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price rose 5.3% during trading on Monday . The stock traded as high as $1.11 and last traded at $1.10. Approximately 1,544,364 shares were traded during trading, a decline of 75% from the average daily volume of 6,089,962 shares. The stock had previously closed at $1.04.

Wall Street Analyst Weigh In

Several analysts have issued reports on PSNY shares. Bank of America began coverage on shares of Polestar Automotive Holding UK in a research note on Thursday, December 5th. They issued a “neutral” rating and a $1.25 price objective for the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, Polestar Automotive Holding UK presently has a consensus rating of “Hold” and a consensus target price of $1.53.

Polestar Automotive Holding UK Stock Performance

The stock has a market cap of $2.27 billion, a P/E ratio of -1.87 and a beta of 1.53. The firm’s 50 day moving average is $1.08 and its 200 day moving average is $1.15.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of large investors have recently modified their holdings of the business. MetLife Investment Management LLC increased its stake 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 valued at $26,000 after purchasing an additional 8,823 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Polestar Automotive Holding UK by 125.4% in the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock valued at $80,000 after purchasing an additional 25,930 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at about $26,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Polestar Automotive Holding UK by 31.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 319,508 shares of the company’s stock worth $550,000 after buying an additional 77,106 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in Polestar Automotive Holding UK by 153.1% during the second quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock worth $119,000 after acquiring an additional 91,139 shares during the period. Hedge funds and other institutional investors own 1.02% of the company’s stock.

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.