Polestar Automotive Holding UK (NASDAQ:PSNY) Sees Strong Trading Volume

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) saw an uptick in trading volume on Monday . 2,197,656 shares were traded during mid-day trading, a decline of 62% from the previous session’s volume of 5,845,982 shares.The stock last traded at $0.84 and had previously closed at $0.79.

Wall Street Analyst Weigh In

PSNY has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of Polestar Automotive Holding UK in a research note on Monday. Citigroup cut their price target on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a research note on Thursday, May 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $2.00 target price (down from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.48.

Polestar Automotive Holding UK Stock Performance

The business’s 50-day moving average is $0.99 and its two-hundred day moving average is $1.53.

Institutional Trading of Polestar Automotive Holding UK

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Street Partners LLC purchased a new position in Polestar Automotive Holding UK during the fourth quarter worth about $28,000. Schechter Investment Advisors LLC acquired a new stake in shares of Polestar Automotive Holding UK during the 4th quarter worth about $35,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in Polestar Automotive Holding UK by 32.2% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock valued at $47,000 after purchasing an additional 5,115 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Polestar Automotive Holding UK by 136.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,344 shares of the company’s stock valued at $55,000 after buying an additional 14,048 shares in the last quarter. Finally, Bard Financial Services Inc. lifted its position in Polestar Automotive Holding UK by 57.1% in the fourth quarter. Bard Financial Services Inc. now owns 27,500 shares of the company’s stock valued at $62,000 after acquiring an additional 10,000 shares during the last quarter. 1.02% of the stock is 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.