Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Up 15.2%

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) rose 15.2% during mid-day trading on Thursday . The company traded as high as $0.82 and last traded at $0.81. Approximately 13,721,511 shares were traded during mid-day trading, an increase of 140% from the average daily volume of 5,709,953 shares. The stock had previously closed at $0.71.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup decreased their target price on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a research note on Thursday, May 16th. Piper Sandler reissued a “neutral” rating and issued a $2.00 price target (down previously from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price objective on shares of Polestar Automotive Holding UK in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.48.

Polestar Automotive Holding UK Trading Down 4.7 %

The stock’s fifty day moving average is $0.99 and its 200 day moving average is $1.54.

Institutional Trading of Polestar Automotive Holding UK

A number of institutional investors have recently modified their holdings of PSNY. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Polestar Automotive Holding UK by 32.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock worth $47,000 after buying an additional 5,115 shares during the period. Green Alpha Advisors LLC increased its position in Polestar Automotive Holding UK by 2.4% during the 1st quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock valued at $430,000 after purchasing an additional 6,528 shares during the period. Raymond James & Associates lifted its position in shares of Polestar Automotive Holding UK by 36.5% in the 4th quarter. Raymond James & Associates now owns 29,532 shares of the company’s stock worth $67,000 after purchasing an additional 7,900 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Polestar Automotive Holding UK during the 3rd quarter valued at about $25,000. Finally, Bard Financial Services Inc. increased its position in shares of Polestar Automotive Holding UK by 57.1% during the fourth quarter. Bard Financial Services Inc. now owns 27,500 shares of the company’s stock valued at $62,000 after buying an additional 10,000 shares during the period. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Company Profile

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