Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down – Should You Sell?

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) gapped down prior to trading on Monday . The stock had previously closed at $0.60, but opened at $0.58. Polestar Automotive Holding UK shares last traded at $0.5830, with a volume of 917,355 shares.

Analyst Ratings Changes

Several research firms have issued reports on PSNY. Weiss Ratings reissued a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday. Zacks Research lowered Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a report on Friday, November 14th. Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Thursday, September 4th. Finally, Wall Street Zen cut Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Polestar Automotive Holding UK Price Performance

The company has a market cap of $30.26 billion, a PE ratio of -21.71 and a beta of 1.37. The business has a fifty day simple moving average of $22.51 and a two-hundred day simple moving average of $28.76.

Shares of Polestar Automotive Holding UK are going to reverse split on the morning of Tuesday, December 30th. The 1-30 reverse split was announced on Monday, November 17th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 29th.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG increased its position in Polestar Automotive Holding UK by 22.5% during the 1st quarter. Deutsche Bank AG now owns 794,873 shares of the company’s stock valued at $835,000 after buying an additional 146,107 shares in the last quarter. Invesco Ltd. grew its stake in shares of Polestar Automotive Holding UK by 1,096.8% during the first quarter. Invesco Ltd. now owns 146,238 shares of the company’s stock worth $154,000 after acquiring an additional 134,019 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Polestar Automotive Holding UK by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock valued at $555,000 after acquiring an additional 57,717 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Polestar Automotive Holding UK by 61.2% during the first quarter. Advisors Asset Management Inc. now owns 449,227 shares of the company’s stock valued at $472,000 after acquiring an additional 170,563 shares in the last quarter. Finally, SCS Capital Management LLC purchased a new position in shares of Polestar Automotive Holding UK in the 1st quarter valued at approximately $43,000. Hedge funds and other 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.