Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Receives $3.48 Consensus Price Target from Analysts

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) have earned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $3.48.

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 target price on shares of Polestar Automotive Holding UK in a research report on Friday, April 12th. Piper Sandler reiterated a “neutral” rating and set a $2.00 target price (down previously from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Finally, Citigroup lowered their price objective on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a report on Thursday, May 16th.

Polestar Automotive Holding UK Trading Up 24.0 %

Polestar Automotive Holding UK stock opened at $0.84 on Thursday. Polestar Automotive Holding UK has a 12-month low of $0.68 and a 12-month high of $4.96. The firm’s fifty day moving average is $1.11 and its 200 day moving average is $1.63.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PSNY. Avantax Advisory Services Inc. bought a new stake in shares of Polestar Automotive Holding UK in the 3rd quarter worth $34,000. Pathstone Family Office LLC grew its stake in shares of Polestar Automotive Holding UK by 87.8% in the 3rd quarter. Pathstone Family Office LLC now owns 84,510 shares of the company’s stock worth $223,000 after acquiring an additional 39,510 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Polestar Automotive Holding UK in the 3rd quarter worth $532,000. Prime Capital Investment Advisors LLC grew its stake in shares of Polestar Automotive Holding UK by 83.8% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 37,791 shares of the company’s stock worth $100,000 after acquiring an additional 17,231 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Polestar Automotive Holding UK during the third quarter valued at about $25,000. Institutional investors and hedge funds 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.