Polestar Automotive Holding UK (NASDAQ:PSNY) Earns Neutral Rating from Analysts at Bank of America

Bank of America initiated coverage on shares of Polestar Automotive Holding UK (NASDAQ:PSNY) in a report issued on Thursday morning, MarketBeat.com reports. The firm issued a neutral rating and a $1.25 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 price target on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Sanford C. Bernstein raised their target price on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a research report on Friday, August 30th. Cantor Fitzgerald reiterated 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. Finally, Piper Sandler dropped 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Polestar Automotive Holding UK presently has a consensus rating of “Hold” and a consensus target price of $1.53.

Polestar Automotive Holding UK Stock Performance

NASDAQ:PSNY opened at $1.10 on Thursday. The company has a 50-day moving average of $1.27 and a 200-day moving average of $1.08. Polestar Automotive Holding UK has a 52 week low of $0.61 and a 52 week high of $2.65. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -1.93 and a beta of 1.53.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several institutional investors have recently bought and sold shares of the business. Swedbank AB acquired a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at $9,235,000. Tredje AP fonden acquired a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at about $3,091,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at about $1,321,000. Geode Capital Management LLC raised its stake in shares of Polestar Automotive Holding UK by 444.0% in the third 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. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Polestar Automotive Holding UK during the second quarter worth approximately $518,000. 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.