Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $1.58 Consensus Target Price from Analysts

by · The Markets Daily

Polestar Automotive Holding UK PLC (NASDAQ:PSNY – Get Free Report) has received an average recommendation of “Reduce” from the six analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $1.58.

Several equities research analysts have commented on PSNY shares. Sanford C. Bernstein upped their target price on shares of 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 price objective on shares of Polestar Automotive Holding UK in a research note on Tuesday, September 10th. Barclays lowered their price target on Polestar Automotive Holding UK from $2.00 to $1.00 and set an “underweight” rating for the company in a report on Wednesday, July 3rd. Piper Sandler cut their price objective 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, Cantor Fitzgerald reiterated 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.

Read Our Latest Stock Report on PSNY

Polestar Automotive Holding UK Stock Up 5.3 %

Shares of Polestar Automotive Holding UK stock opened at $1.59 on Friday. Polestar Automotive Holding UK has a 12 month low of $0.61 and a 12 month high of $2.91. The business has a fifty day simple moving average of $1.24 and a 200 day simple moving average of $1.13.

Polestar Automotive Holding UK (NASDAQ:PSNY – Get Free Report) last posted 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 during the quarter. As a group, equities research analysts expect that Polestar Automotive Holding UK will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About Polestar Automotive Holding UK

(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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