Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Rating Reaffirmed by Cantor Fitzgerald

Polestar Automotive Holding UK (NASDAQ:PSNY)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $3.00 price objective on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 92.31% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Sanford C. Bernstein increased their target price on shares of Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a report on Friday, August 30th. Piper Sandler decreased their price objective on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $1.50 target price on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Finally, Barclays lowered their price target on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $1.58.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ:PSNY traded up $0.04 during trading on Monday, reaching $1.56. 2,789,980 shares of the company were exchanged, compared to its average volume of 8,061,056. The business’s fifty day simple moving average is $1.03 and its 200-day simple moving average is $1.13. Polestar Automotive Holding UK has a 12-month low of $0.61 and a 12-month high of $2.94.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.35) EPS for the quarter. The business had revenue of $534.12 million during the quarter. As a group, equities analysts predict that Polestar Automotive Holding UK will post -0.53 EPS for the current year.

Institutional Trading of Polestar Automotive Holding UK

Several large investors have recently made changes to their positions in PSNY. Harel Insurance Investments & Financial Services Ltd. grew its position in Polestar Automotive Holding UK by 77.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock worth $25,000 after purchasing an additional 13,624 shares during the period. Public Employees Retirement Association of Colorado purchased a new stake in Polestar Automotive Holding UK in the 2nd quarter worth approximately $26,000. SG Americas Securities LLC acquired a new stake in shares of Polestar Automotive Holding UK during the 2nd quarter worth approximately $32,000. Versor Investments LP purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at approximately $47,000. Finally, DNB Asset Management AS acquired a new position in shares of Polestar Automotive Holding UK in the 2nd quarter valued at $48,000. 1.02% of the stock is owned by hedge funds and other institutional investors.

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.