Bank of America Begins Coverage on Polestar Automotive Holding UK (NASDAQ:PSNY)

Bank of America assumed coverage on shares of Polestar Automotive Holding UK (NASDAQ:PSNY) in a report issued on Thursday, Marketbeat.com reports. The brokerage issued a neutral rating and a $1.25 price objective on the stock.

Other equities analysts have also issued reports about the stock. Sanford C. Bernstein increased their price objective 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. 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 research note on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $1.53.

Polestar Automotive Holding UK Trading Up 2.8 %

Shares of NASDAQ:PSNY opened at $1.10 on Thursday. Polestar Automotive Holding UK has a 1-year low of $0.61 and a 1-year high of $2.65. The stock has a market capitalization of $2.35 billion, a P/E ratio of -1.93 and a beta of 1.53. The business has a 50-day moving average price of $1.27 and a two-hundred day moving average price of $1.08.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB acquired a new stake in Polestar Automotive Holding UK during the 2nd quarter worth $9,235,000. Tredje AP fonden bought a new stake in shares of Polestar Automotive Holding UK in the second quarter worth about $3,091,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Polestar Automotive Holding UK during the second quarter worth about $1,321,000. Geode Capital Management LLC lifted its holdings in shares of Polestar Automotive Holding UK by 444.0% during the 3rd quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock valued at $1,471,000 after purchasing an additional 697,820 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Polestar Automotive Holding UK in the 2nd quarter valued at approximately $518,000. 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.