Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Up to $0.70

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s share price gapped up prior to trading on Monday . The stock had previously closed at $0.70, but opened at $0.72. Polestar Automotive Holding UK shares last traded at $0.71, with a volume of 780,025 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of Polestar Automotive Holding UK in a research report on Friday, April 12th. Piper Sandler reiterated a “neutral” rating and issued a $2.00 price objective (down from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Finally, Citigroup decreased their price objective on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Polestar Automotive Holding UK presently has a consensus rating of “Hold” and an average target price of $3.48.

Polestar Automotive Holding UK Stock Down 3.3 %

The firm’s 50 day moving average is $1.03 and its two-hundred day moving average is $1.58.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in Polestar Automotive Holding UK by 159.5% in the 4th quarter. Private Advisor Group LLC now owns 62,550 shares of the company’s stock valued at $141,000 after purchasing an additional 38,450 shares during the last quarter. Invesco Ltd. increased its stake in shares of Polestar Automotive Holding UK by 10.7% during the 3rd quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock valued at $7,481,000 after acquiring an additional 273,479 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Polestar Automotive Holding UK by 67.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 288,172 shares of the company’s stock valued at $608,000 after acquiring an additional 116,207 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Polestar Automotive Holding UK during the 4th quarter valued at about $242,000. Finally, Rafferty Asset Management LLC increased its stake in shares of Polestar Automotive Holding UK by 18.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 62,999 shares of the company’s stock valued at $166,000 after acquiring an additional 9,942 shares during the last quarter. Institutional investors and hedge funds own 1.02% of the company’s stock.

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.