Polestar Automotive Holding UK (NASDAQ:PSNY) Sees Unusually-High Trading Volume

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares saw strong trading volume on Monday . 2,197,656 shares changed hands during mid-day trading, a decline of 62% from the previous session’s volume of 5,845,982 shares.The stock last traded at $0.84 and had previously closed at $0.79.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price target on shares of Polestar Automotive Holding UK in a research report on Monday. Piper Sandler reiterated a “neutral” rating and issued a $2.00 target price (down previously from $3.00) on shares of Polestar Automotive Holding UK in a research note on Friday, March 15th. Finally, Citigroup reduced their price target on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Two equities research 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 data from MarketBeat.com, Polestar Automotive Holding UK currently has a consensus rating of “Hold” and a consensus price target of $3.48.

Polestar Automotive Holding UK Trading Down 1.2 %

The company’s fifty day simple moving average is $0.97 and its 200 day simple moving average is $1.51.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its holdings in shares of Polestar Automotive Holding UK by 118.4% in the first quarter. Tidal Investments LLC now owns 241,946 shares of the company’s stock worth $373,000 after buying an additional 131,167 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Polestar Automotive Holding UK by 32.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,336 shares of the company’s stock worth $218,000 after buying an additional 34,827 shares in the last quarter. Green Alpha Advisors LLC lifted its holdings in shares of Polestar Automotive Holding UK by 2.4% in the first quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock worth $430,000 after buying an additional 6,528 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new stake in Polestar Automotive Holding UK in the fourth quarter valued at approximately $226,000. Finally, Bard Financial Services Inc. raised its stake in 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 valued at $62,000 after purchasing an additional 10,000 shares in the last quarter. 1.02% of the stock is owned by hedge funds and other institutional investors.

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.