Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives Average Recommendation of “Reduce” from Analysts

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has been assigned a consensus rating of “Reduce” from the seven analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $1.53.

A number of research firms recently issued reports on PSNY. Bank of America began coverage on Polestar Automotive Holding UK in a research note on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Friday, January 17th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at approximately $104,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at approximately $610,000. Vident Advisory LLC purchased a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at approximately $178,000. Nuveen Asset Management LLC purchased a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at approximately $347,000. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Polestar Automotive Holding UK by 69.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 339,809 shares of the company’s stock valued at $357,000 after purchasing an additional 139,590 shares during the last quarter. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Stock Performance

PSNY opened at $1.14 on Tuesday. Polestar Automotive Holding UK has a one year low of $0.61 and a one year high of $1.94. The company has a market cap of $2.43 billion, a P/E ratio of -2.00 and a beta of 1.49. The business’s 50-day simple moving average is $1.09 and its 200-day simple moving average is $1.21.

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.