Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $1.58 Consensus PT from Brokerages

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) has earned an average recommendation of “Reduce” from the six analysts that are currently covering the stock, MarketBeat.com reports. Two investment 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 twelve-month price objective among brokerages that have covered the stock in the last year is $1.58.

Several equities research analysts have recently commented on PSNY shares. Sanford C. Bernstein upped their target price on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $3.00 price target on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Piper Sandler lowered their price objective on shares of Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 target price on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Polestar Automotive Holding UK by 77.3% in 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 stake in shares of Polestar Automotive Holding UK in the second quarter worth about $26,000. SG Americas Securities LLC bought a new stake in shares of Polestar Automotive Holding UK during the 2nd quarter worth about $32,000. Versor Investments LP acquired a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at about $47,000. Finally, DNB Asset Management AS bought a new position in shares of Polestar Automotive Holding UK in the 2nd quarter valued at approximately $48,000. 1.02% of the stock is owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Stock Up 2.7 %

NASDAQ:PSNY opened at $1.14 on Wednesday. Polestar Automotive Holding UK has a 52-week low of $0.61 and a 52-week high of $2.65. The business’s 50-day moving average price is $1.43 and its 200 day moving average price is $1.11. The firm has a market cap of $2.43 billion, a P/E ratio of -2.00 and a beta of 1.48.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. The business had revenue of $534.12 million for the quarter. Sell-side analysts expect that Polestar Automotive Holding UK will post -0.53 EPS for the current year.

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.