Polestar Automotive Holding UK (NASDAQ:PSNY) Earns Overweight Rating from Cantor Fitzgerald

Polestar Automotive Holding UK (NASDAQ:PSNY)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They presently have a $5.00 price objective on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 488.30% from the stock’s previous close.

Other analysts have also issued reports about the stock. 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 note on Friday, March 15th. Citigroup reduced 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $3.48.

Polestar Automotive Holding UK Trading Up 8.0 %

NASDAQ PSNY traded up $0.06 during trading hours on Monday, reaching $0.85. 2,246,251 shares of the company’s stock traded hands, compared to its average volume of 5,845,982. Polestar Automotive Holding UK has a 52-week low of $0.65 and a 52-week high of $4.96. The firm has a 50-day simple moving average of $0.99 and a 200 day simple moving average of $1.53.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Polestar Automotive Holding UK by 32.2% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock worth $47,000 after buying an additional 5,115 shares during the last quarter. Green Alpha Advisors LLC lifted its holdings in Polestar Automotive Holding UK by 2.4% during the first quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock valued at $430,000 after purchasing an additional 6,528 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Polestar Automotive Holding UK by 36.5% in the fourth quarter. Raymond James & Associates now owns 29,532 shares of the company’s stock worth $67,000 after buying an additional 7,900 shares in the last quarter. Bard Financial Services Inc. lifted its holdings in shares of Polestar Automotive Holding UK by 57.1% in the fourth quarter. Bard Financial Services Inc. now owns 27,500 shares of the company’s stock worth $62,000 after buying an additional 10,000 shares in the last quarter. Finally, Principal Street Partners LLC purchased a new position in shares of Polestar Automotive Holding UK in the fourth quarter worth $28,000. Hedge funds and other institutional investors 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.