Brokerages Set Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Target Price at $1.58

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have been assigned an average recommendation of “Reduce” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $1.58.

A number of research analysts have recently issued reports on PSNY shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.00 target price on shares of Polestar Automotive Holding UK in a report on Monday, September 30th. Piper Sandler dropped their target price on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Barclays dropped their target price on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.50 target price on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Finally, Sanford C. Bernstein boosted their target price on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a report on Friday, August 30th.

Polestar Automotive Holding UK Stock Performance

NASDAQ PSNY opened at $1.64 on Friday. The firm’s fifty day moving average is $1.20 and its two-hundred day moving average is $1.13. Polestar Automotive Holding UK has a one year low of $0.61 and a one year high of $2.91.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. The company had revenue of $534.12 million during the quarter. As a group, research analysts expect that Polestar Automotive Holding UK will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Polestar Automotive Holding UK by 71.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 242,402 shares of the company’s stock worth $191,000 after acquiring an additional 101,066 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Polestar Automotive Holding UK during the second quarter worth $179,000. Scientech Research LLC acquired a new position in Polestar Automotive Holding UK during the second quarter worth $161,000. Marshall Wace LLP acquired a new position in Polestar Automotive Holding UK during the second quarter worth $407,000. Finally, Public Sector Pension Investment Board purchased a new stake in Polestar Automotive Holding UK during the second quarter worth $193,000. Institutional investors and hedge funds 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.