Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Given Average Recommendation of “Reduce” by Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have been assigned an average recommendation of “Reduce” from the seven research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $1.53.

Several analysts recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Friday, January 17th. Bank of America assumed coverage on Polestar Automotive Holding UK in a report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 price objective for the company.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Polestar Automotive Holding UK by 48.0% in the fourth quarter. Geode Capital Management LLC now owns 1,265,400 shares of the company’s stock worth $1,329,000 after purchasing an additional 410,401 shares in the last quarter. Swiss National Bank bought a new position in Polestar Automotive Holding UK in the fourth quarter worth about $855,000. Deutsche Bank AG bought a new position in Polestar Automotive Holding UK in the fourth quarter worth about $681,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Polestar Automotive Holding UK during the fourth quarter valued at about $610,000. Finally, Northern Trust Corp acquired a new position in shares of Polestar Automotive Holding UK during the fourth quarter valued at about $548,000. 1.02% of the stock is currently owned by institutional investors.

Polestar Automotive Holding UK Price Performance

PSNY stock opened at $1.07 on Tuesday. The business has a 50-day moving average price of $1.09 and a 200 day moving average price of $1.20. The company has a market capitalization of $2.28 billion, a P/E ratio of -1.88 and a beta of 1.52. Polestar Automotive Holding UK has a 1-year low of $0.61 and a 1-year high of $1.94.

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.