Barclays Cuts Polestar Automotive Holding UK (NASDAQ:PSNY) Price Target to $1.00

Polestar Automotive Holding UK (NASDAQ:PSNY) had its price objective reduced by Barclays from $2.00 to $1.00 in a research note released on Wednesday morning, Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other analysts have also recently commented on the company. Piper Sandler reaffirmed a neutral rating and set a $2.00 price target (down previously from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Cantor Fitzgerald reaffirmed an overweight rating and set a $5.00 price target on shares of Polestar Automotive Holding UK in a research report on Monday, July 1st. Finally, Citigroup lowered their price target on Polestar Automotive Holding UK from $2.50 to $1.70 and set a neutral rating for the company 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 given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $3.31.

Polestar Automotive Holding UK Stock Performance

Shares of PSNY stock opened at $0.97 on Wednesday. Polestar Automotive Holding UK has a 1-year low of $0.65 and a 1-year high of $4.96. The stock’s fifty day moving average price is $0.96 and its 200 day moving average price is $1.49.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of large investors have recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Polestar Automotive Holding UK by 10.7% in 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 period. Tobam raised its holdings in Polestar Automotive Holding UK by 24.0% in the 4th quarter. Tobam now owns 1,136,540 shares of the company’s stock worth $2,569,000 after purchasing an additional 220,147 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Polestar Automotive Holding UK by 67.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 288,172 shares of the company’s stock worth $608,000 after purchasing an additional 116,207 shares during the period. Green Alpha Advisors LLC raised its holdings in Polestar Automotive Holding UK by 2.4% in the 1st quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock worth $430,000 after purchasing an additional 6,528 shares during the period. Finally, Mariner LLC raised its holdings in Polestar Automotive Holding UK by 207.5% in the 3rd quarter. Mariner LLC now owns 252,901 shares of the company’s stock worth $668,000 after purchasing an additional 170,660 shares during the period. Institutional investors and hedge funds 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.