Analysts Set Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Target Price at $1.53

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have received a consensus recommendation of “Reduce” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Two investment 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 research analysts recently issued reports on PSNY shares. Bank of America assumed coverage on shares of Polestar Automotive Holding UK in a research report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 target price for the company. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Friday, January 17th.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of large investors have recently added to or reduced their stakes in PSNY. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Polestar Automotive Holding UK during the fourth quarter valued at about $504,000. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 697,820 shares during the period. Handelsbanken Fonder AB bought a new position in Polestar Automotive Holding UK during the 4th quarter worth approximately $115,000. Swiss National Bank bought a new position in Polestar Automotive Holding UK during the 4th quarter worth approximately $855,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Polestar Automotive Holding UK in the 3rd quarter worth approximately $468,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Polestar Automotive Holding UK Stock Down 2.8 %

Shares of NASDAQ PSNY opened at $1.05 on Friday. The stock’s 50-day simple moving average is $1.09 and its two-hundred day simple moving average is $1.20. Polestar Automotive Holding UK has a twelve month low of $0.61 and a twelve month high of $1.94. The firm has a market capitalization of $2.24 billion, a P/E ratio of -1.84 and a beta of 1.49.

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.