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

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares saw unusually-high trading volume on Tuesday . Approximately 3,708,704 shares were traded during trading, a decline of 54% from the previous session’s volume of 8,014,586 shares.The stock last traded at $1.85 and had previously closed at $1.81.

Analyst Ratings Changes

Several brokerages have issued reports on PSNY. Sanford C. Bernstein boosted their price objective on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a research note on Friday, August 30th. Barclays cut their price target on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $3.00 target price on shares of Polestar Automotive Holding UK in a research note on Monday, September 9th. Finally, Piper Sandler reduced their price target on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $1.58.

Polestar Automotive Holding UK Trading Down 4.7 %

The firm’s 50-day simple moving average is $1.01 and its two-hundred day simple moving average is $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.35) earnings per share for the quarter. The company had revenue of $534.12 million during the quarter. Equities analysts anticipate that Polestar Automotive Holding UK PLC will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Polestar Automotive Holding UK by 77.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock valued at $25,000 after acquiring an additional 13,624 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Polestar Automotive Holding UK in the second quarter valued at approximately $26,000. SG Americas Securities LLC purchased a new position in shares of Polestar Automotive Holding UK during the second quarter valued at approximately $32,000. Versor Investments LP acquired a new stake in Polestar Automotive Holding UK during the second quarter worth approximately $47,000. Finally, DNB Asset Management AS purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth $48,000. 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.