Polestar Automotive Holding UK (NASDAQ:PSNY) Price Target Cut to $1.00

Polestar Automotive Holding UK (NASDAQ:PSNY) had its price target cut by equities researchers at Barclays from $2.00 to $1.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 12.33% from the stock’s current price.

A number of other equities analysts have also weighed in on PSNY. Citigroup decreased their price target on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Piper Sandler reissued a “neutral” rating and issued a $2.00 price objective (down from $3.00) on shares of Polestar Automotive Holding UK in a research note on Friday, March 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of Polestar Automotive Holding UK in a research note on Monday. Two 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.31.

Polestar Automotive Holding UK Trading Down 1.6 %

NASDAQ:PSNY opened at $0.89 on Wednesday. Polestar Automotive Holding UK has a 1-year low of $0.65 and a 1-year high of $4.96. The stock has a fifty day simple moving average of $0.96 and a 200 day simple moving average of $1.50.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Street Partners LLC purchased a new stake in shares of Polestar Automotive Holding UK during the 4th quarter worth about $28,000. Schechter Investment Advisors LLC purchased a new stake in shares of Polestar Automotive Holding UK during the 4th quarter worth about $35,000. Harel Insurance Investments & Financial Services Ltd. raised its stake 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 worth $47,000 after purchasing an additional 5,115 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake 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 worth $55,000 after purchasing an additional 14,048 shares in the last quarter. Finally, Bard Financial Services Inc. raised its stake 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 worth $62,000 after purchasing an additional 10,000 shares in the last quarter. 1.02% of the stock is owned by hedge funds and other institutional investors.

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.