Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Down 7% – Here’s Why

by · The Cerbat Gem

Polestar Automotive Holding UK PLC (NASDAQ:PSNY – Get Free Report)’s stock price was down 7% during trading on Tuesday . The company traded as low as $1.50 and last traded at $1.53. 2,882,199 shares were traded during trading, a decline of 63% from the average daily volume of 7,895,912 shares. The stock had previously closed at $1.64.

Analyst Ratings Changes

Several brokerages have recently commented on PSNY. Cantor Fitzgerald restated an “overweight” rating and set a $3.00 price target on shares of Polestar Automotive Holding UK in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 price target on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Barclays reduced their price objective on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a research note on Wednesday, July 3rd. Piper Sandler dropped their target price 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. Finally, Sanford C. Bernstein boosted their price target on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the company an “underperform” rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1.58.

View Our Latest Stock Report on Polestar Automotive Holding UK

Polestar Automotive Holding UK Stock Down 7.5 %

The business’s 50 day moving average is $1.25 and its 200-day moving average is $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY – Get Free Report) last announced its earnings results on Wednesday, August 14th. The company reported ($0.35) earnings per share (EPS) for the quarter. The firm had revenue of $534.12 million for the quarter. Equities analysts expect that Polestar Automotive Holding UK PLC will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. increased its position in Polestar Automotive Holding UK by 77.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,239 shares of the company’s stock worth $25,000 after purchasing an additional 13,624 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of Polestar Automotive Holding UK during the 2nd quarter worth about $26,000. SG Americas Securities LLC purchased a new position in shares of Polestar Automotive Holding UK during the second quarter worth about $32,000. Versor Investments LP acquired a new position in shares of Polestar Automotive Holding UK in the 2nd quarter valued at $47,000. Finally, DNB Asset Management AS acquired a new stake in Polestar Automotive Holding UK during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Polestar Automotive Holding UK Company Profile

(Get Free Report)

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.

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