Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $1.53 Average Target Price from Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have earned a consensus recommendation of “Reduce” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $1.53.

Several equities analysts have recently weighed in on PSNY shares. Sanford C. Bernstein raised their target price on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 target price on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Piper Sandler reduced their target price on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Bank of America started coverage on shares of Polestar Automotive Holding UK in a research report on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a report on Monday, September 30th.

Polestar Automotive Holding UK Trading Up 6.3 %

Shares of PSNY opened at $1.00 on Thursday. The firm has a market cap of $2.13 billion, a P/E ratio of -1.75 and a beta of 1.53. The stock’s 50 day moving average is $1.15 and its two-hundred day moving average is $1.09. Polestar Automotive Holding UK has a 12 month low of $0.61 and a 12 month high of $2.56.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of hedge funds have recently modified their holdings of the business. Tredje AP fonden acquired a new position in Polestar Automotive Holding UK in the second quarter valued at about $3,091,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter valued at approximately $1,321,000. Geode Capital Management LLC lifted its holdings in shares of Polestar Automotive Holding UK by 444.0% in the 3rd quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock worth $1,471,000 after acquiring an additional 697,820 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth approximately $407,000. Finally, Tidal Investments LLC increased its holdings in Polestar Automotive Holding UK by 78.3% in the 3rd quarter. Tidal Investments LLC now owns 468,741 shares of the company’s stock valued at $806,000 after purchasing an additional 205,890 shares during the last quarter. 1.02% of the stock is currently 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.