Polestar Automotive Holding UK (NASDAQ:PSNY) Sees Large Volume Increase – Here’s Why

by · The Markets Daily

Polestar Automotive Holding UK PLC (NASDAQ:PSNY – Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 638,850 shares changed hands during mid-day trading, an increase of 141% from the previous session’s volume of 264,607 shares.The stock last traded at $15.92 and had previously closed at $16.41.

Analysts Set New Price Targets

PSNY has been the subject of a number of research reports. Cantor Fitzgerald cut Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Monday, December 29th. Finally, Zacks Research raised Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Check Out Our Latest Stock Analysis on Polestar Automotive Holding UK

Polestar Automotive Holding UK Stock Down 2.9%

The company’s 50-day simple moving average is $39.74 and its 200 day simple moving average is $495.53. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.82 and a beta of 1.23.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Large investors have recently added to or reduced their stakes in the stock. Alpine Global Management LLC acquired a new position in Polestar Automotive Holding UK during the fourth quarter valued at approximately $219,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Polestar Automotive Holding UK during the 4th quarter worth $522,000. Rathbones Group PLC grew its stake in Polestar Automotive Holding UK by 79.1% in the 3rd quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock valued at $43,000 after buying an additional 20,000 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Polestar Automotive Holding UK by 45.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock worth $51,000 after acquiring an additional 14,877 shares during the period. Finally, Captrust Financial Advisors lifted its position in Polestar Automotive Holding UK by 43.2% during the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after acquiring an additional 17,700 shares during the last quarter. Institutional investors own 1.02% of the company’s stock.

About Polestar Automotive Holding UK

(Get Free Report)

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.

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