Polestar Automotive Holding UK (NASDAQ:PSNY) Sees Strong Trading Volume – Time to Buy?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares saw unusually-high trading volume on Friday . Approximately 2,732,546 shares traded hands during mid-day trading, a decline of 4% from the previous session’s volume of 2,849,959 shares.The stock last traded at $1.17 and had previously closed at $1.10.

Analyst Ratings Changes

A number of equities research analysts recently commented on PSNY shares. Bank of America began coverage on Polestar Automotive Holding UK in a research report on Thursday, December 5th. They set a “neutral” rating and a $1.25 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 price target on shares of Polestar Automotive Holding UK in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $3.00 price objective on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $1.53.

Polestar Automotive Holding UK Trading Up 10.9 %

The business’s fifty day simple moving average is $1.11 and its 200 day simple moving average is $1.12. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -2.14 and a beta of 1.53.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC increased its stake in shares of 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. Public Employees Retirement Association of Colorado acquired a new position in Polestar Automotive Holding UK during the second quarter valued at approximately $26,000. Captrust Financial Advisors increased its stake in Polestar Automotive Holding UK by 125.4% in the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock valued at $80,000 after purchasing an additional 25,930 shares in the last quarter. Versor Investments LP acquired a new stake in Polestar Automotive Holding UK in the second quarter worth $47,000. Finally, XTX Topco Ltd boosted its position in shares of Polestar Automotive Holding UK by 153.1% during the second quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock worth $119,000 after purchasing an additional 91,139 shares in the last quarter. Institutional investors 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.