Polestar Automotive Holding UK (NASDAQ:PSNY) Sets New 12-Month Low at $0.67

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) reached a new 52-week low on Friday . The stock traded as low as $0.67 and last traded at $0.67, with a volume of 5780463 shares traded. The stock had previously closed at $0.70.

Analysts Set New Price Targets

PSNY has been the subject of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $2.00 price objective (down from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Citigroup dropped their target price on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a report on Thursday, May 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 target price on shares of Polestar Automotive Holding UK in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.48.

Polestar Automotive Holding UK Price Performance

The firm has a 50 day simple moving average of $1.05 and a 200-day simple moving average of $1.59.

Institutional Trading of Polestar Automotive Holding UK

Several institutional investors and hedge funds have recently bought and sold shares of PSNY. DekaBank Deutsche Girozentrale bought a new stake in Polestar Automotive Holding UK in the third quarter valued at approximately $25,000. Principal Street Partners LLC bought a new position in shares of Polestar Automotive Holding UK during the fourth quarter worth approximately $28,000. Schechter Investment Advisors LLC bought a new position in shares of Polestar Automotive Holding UK during the fourth quarter worth approximately $35,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Polestar Automotive Holding UK by 32.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock worth $47,000 after purchasing an additional 5,115 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Polestar Automotive Holding UK by 136.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,344 shares of the company’s stock worth $55,000 after purchasing an additional 14,048 shares during the period. 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.