Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Down 9.1%

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s share price traded down 9.1% during mid-day trading on Tuesday . The stock traded as low as $0.83 and last traded at $0.83. 9,223,488 shares changed hands during mid-day trading, an increase of 48% from the average session volume of 6,226,943 shares. The stock had previously closed at $0.92.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 target price on shares of Polestar Automotive Holding UK in a report on Monday. Citigroup cut their target price on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a report on Thursday, May 16th. Piper Sandler restated a “neutral” rating and issued a $2.00 target price (down previously from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Finally, Barclays cut their price target on shares of Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.31.

Polestar Automotive Holding UK Stock Down 1.6 %

The firm’s fifty day moving average is $0.97 and its two-hundred day moving average is $1.51.

Institutional Trading of Polestar Automotive Holding UK

Large investors have recently added to or reduced their stakes in the stock. Principal Street Partners LLC bought a new stake in shares of Polestar Automotive Holding UK during the 4th quarter valued at $28,000. Schechter Investment Advisors LLC bought a new stake in shares of Polestar Automotive Holding UK during the 4th quarter valued at $35,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Polestar Automotive Holding UK by 32.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock valued at $47,000 after buying an additional 5,115 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Polestar Automotive Holding UK by 136.4% during 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. boosted its holdings in shares of Polestar Automotive Holding UK by 57.1% during the 4th quarter. Bard Financial Services Inc. now owns 27,500 shares of the company’s stock valued at $62,000 after buying an additional 10,000 shares in the last quarter. 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.