Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down to $0.83

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) gapped down before the market opened on Friday . The stock had previously closed at $0.83, but opened at $0.80. Polestar Automotive Holding UK shares last traded at $0.81, with a volume of 1,804,937 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on PSNY shares. Citigroup decreased their price objective on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating for the company in a research note on Thursday, May 16th. Piper Sandler restated 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. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 target price on shares of Polestar Automotive Holding UK in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.48.

Polestar Automotive Holding UK Stock Down 4.7 %

The business’s 50 day moving average is $0.99 and its 200-day moving average is $1.54.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Large investors have recently made changes to their positions in the business. Principal Street Partners LLC bought a new position in shares of Polestar Automotive Holding UK during the 4th quarter worth about $28,000. Schechter Investment Advisors LLC bought a new position in shares of Polestar Automotive Holding UK in the fourth quarter valued at approximately $35,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Polestar Automotive Holding UK by 32.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock worth $47,000 after acquiring an additional 5,115 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Polestar Automotive Holding UK by 136.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,344 shares of the company’s stock valued at $55,000 after buying an additional 14,048 shares during the last quarter. Finally, Bard Financial Services Inc. grew its stake in shares of Polestar Automotive Holding UK by 57.1% during the fourth quarter. Bard Financial Services Inc. now owns 27,500 shares of the company’s stock valued at $62,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 1.02% of the company’s stock.

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.