Brokerages Set Polestar Automotive Holding UK PLC (NASDAQ:PSNY) PT at $1.53

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has been assigned a consensus recommendation of “Reduce” from the seven analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $1.53.

Several equities analysts have recently weighed in on PSNY shares. Bank of America began coverage on Polestar Automotive Holding UK in a research report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 target price on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Friday, January 17th.

Polestar Automotive Holding UK Price Performance

Shares of PSNY stock opened at $1.12 on Tuesday. Polestar Automotive Holding UK has a 1-year low of $0.61 and a 1-year high of $1.94. The stock has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.20. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -1.96 and a beta of 1.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Polestar Automotive Holding UK during the fourth quarter worth about $504,000. Geode Capital Management LLC raised its position in shares of Polestar Automotive Holding UK by 444.0% during the 3rd quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock valued at $1,471,000 after buying an additional 697,820 shares during the period. Handelsbanken Fonder AB acquired a new position in Polestar Automotive Holding UK in the fourth quarter valued at approximately $115,000. Y Intercept Hong Kong Ltd acquired a new position in Polestar Automotive Holding UK in the third quarter valued at approximately $468,000. Finally, Captrust Financial Advisors grew its position in Polestar Automotive Holding UK by 125.4% in the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after acquiring an additional 25,930 shares during the period. 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.