Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Down 4.1% – Time to Sell?

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) traded down 4.1% during trading on Monday . The company traded as low as $1.16 and last traded at $1.17. 1,552,296 shares were traded during mid-day trading, a decline of 68% from the average session volume of 4,921,491 shares. The stock had previously closed at $1.22.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $3.00 price objective on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th. 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, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 price objective on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Polestar Automotive Holding UK has an average rating of “Hold” and a consensus price target of $1.53.

Polestar Automotive Holding UK Trading Down 8.2 %

The firm’s 50 day moving average price is $1.11 and its two-hundred day moving average price is $1.12. The company has a market capitalization of $2.39 billion, a P/E ratio of -1.97 and a beta of 1.53.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of large investors have recently modified their holdings of PSNY. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth approximately $1,321,000. Marshall Wace LLP bought a new stake in Polestar Automotive Holding UK during the second quarter worth $407,000. Tredje AP fonden acquired a new stake in Polestar Automotive Holding UK in the second quarter valued at $3,091,000. Canada Pension Plan Investment Board grew its position in shares of Polestar Automotive Holding UK by 59.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 321,142 shares of the company’s stock valued at $253,000 after acquiring an additional 119,642 shares during the period. Finally, Public Sector Pension Investment Board acquired a new position in shares of Polestar Automotive Holding UK during the 2nd quarter worth about $193,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

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.