Analysts Set Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Target Price at $1.58

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have received an average recommendation of “Reduce” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $1.58.

PSNY has been the topic of several recent research reports. Piper Sandler cut their price target on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $1.50 price target on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a report on Monday, September 30th. Finally, Sanford C. Bernstein increased their price objective on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a research note on Friday, August 30th.

Polestar Automotive Holding UK Price Performance

Shares of Polestar Automotive Holding UK stock opened at $1.10 on Friday. Polestar Automotive Holding UK has a one year low of $0.61 and a one year high of $2.65. The stock’s 50-day moving average is $1.37 and its 200 day moving average is $1.09. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -1.93 and a beta of 1.54.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several large investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. raised its position in 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 purchasing an additional 13,624 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Polestar Automotive Holding UK during the 2nd quarter valued at about $26,000. MetLife Investment Management LLC increased its holdings in Polestar Automotive Holding UK by 134.4% during the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock valued at $26,000 after purchasing an additional 8,823 shares during the period. SG Americas Securities LLC purchased a new position in Polestar Automotive Holding UK during the 2nd quarter valued at about $32,000. Finally, Versor Investments LP purchased a new position in Polestar Automotive Holding UK during the 2nd quarter valued at about $47,000. Institutional investors own 1.02% of the company’s stock.

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.