Brokerages Set Polestar Automotive Holding UK PLC (NASDAQ:PSNY) PT at $1.58

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have been assigned a consensus rating of “Reduce” from the six research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $1.58.

A number of equities analysts recently commented on PSNY shares. Sanford C. Bernstein lifted their price target on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a report on Friday, August 30th. Piper Sandler reduced their target price on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $1.50 target price on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.00 price target on shares of Polestar Automotive Holding UK in a report on Monday, September 30th.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Institutional investors have recently made changes to their positions in the stock. AMF Tjanstepension AB increased its stake in Polestar Automotive Holding UK by 399.3% during the 2nd quarter. AMF Tjanstepension AB now owns 21,971,866 shares of the company’s stock worth $17,283,000 after acquiring an additional 17,571,426 shares during the period. Swedbank AB bought a new position in shares of Polestar Automotive Holding UK in the second quarter worth $9,235,000. Tredje AP fonden acquired a new position in Polestar Automotive Holding UK in the second quarter valued at about $3,091,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Polestar Automotive Holding UK during the second quarter worth about $1,321,000. Finally, Geode Capital Management LLC grew its stake in Polestar Automotive Holding UK by 444.0% during the third quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock worth $1,471,000 after buying an additional 697,820 shares in the last quarter. 1.02% of the stock is currently owned by institutional investors.

Polestar Automotive Holding UK Price Performance

Shares of PSNY stock opened at $1.09 on Friday. The company has a fifty day moving average price of $1.35 and a two-hundred day moving average price of $1.09. Polestar Automotive Holding UK has a one year low of $0.61 and a one year high of $2.65. The stock has a market cap of $2.33 billion, a P/E ratio of -1.91 and a beta of 1.54.

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.