Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $1.53 Consensus Price Target from Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have been given a consensus recommendation of “Reduce” by the seven brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $1.53.

A number of equities research analysts have issued reports on PSNY shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 target price on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Cantor Fitzgerald reiterated 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 cut their price target 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. Sanford C. Bernstein lifted their price objective on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a research note on Friday, August 30th. Finally, Bank of America initiated coverage on shares of Polestar Automotive Holding UK in a research note on Thursday, December 5th. They set a “neutral” rating and a $1.25 target price on the stock.

Polestar Automotive Holding UK Price Performance

NASDAQ PSNY opened at $1.00 on Thursday. The company has a market cap of $2.13 billion, a P/E ratio of -1.75 and a beta of 1.53. The stock has a 50-day moving average of $1.15 and a two-hundred day moving average of $1.09. Polestar Automotive Holding UK has a 1-year low of $0.61 and a 1-year high of $2.56.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado acquired a new stake in Polestar Automotive Holding UK in the second quarter valued at $26,000. MetLife Investment Management LLC grew its stake in Polestar Automotive Holding UK by 134.4% in the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock valued at $26,000 after acquiring an additional 8,823 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at about $32,000. Versor Investments LP acquired a new stake in Polestar Automotive Holding UK in the 2nd quarter valued at about $47,000. Finally, Captrust Financial Advisors raised its position in Polestar Automotive Holding UK by 125.4% during the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after acquiring an additional 25,930 shares during the last quarter. 1.02% of the stock is currently 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.