Polestar Automotive Holding UK (NASDAQ:PSNY) Price Target Cut to $1.00 by Analysts at Barclays

Polestar Automotive Holding UK (NASDAQ:PSNY) had its target price lowered by Barclays from $2.00 to $1.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 12.33% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of Polestar Automotive Holding UK in a research note on Monday. Citigroup reduced their price objective on shares of Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating for the company in a research note on Thursday, May 16th. Finally, Piper Sandler reissued a “neutral” rating and issued a $2.00 price objective (down from $3.00) on shares of Polestar Automotive Holding UK in a research note on Friday, March 15th. 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 to the company’s stock. According to MarketBeat.com, Polestar Automotive Holding UK presently has an average rating of “Hold” and an average price target of $3.31.

Polestar Automotive Holding UK Stock Down 1.6 %

PSNY stock traded down $0.01 during midday trading on Wednesday, reaching $0.89. 13,762,052 shares of the company’s stock traded hands, compared to its average volume of 6,369,481. Polestar Automotive Holding UK has a 52-week low of $0.65 and a 52-week high of $4.96. The stock’s 50-day moving average is $0.97 and its 200 day moving average is $1.51.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Institutional investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its holdings in shares of Polestar Automotive Holding UK by 10.7% in the 3rd quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock worth $7,481,000 after acquiring an additional 273,479 shares during the last quarter. Mariner LLC increased its position in Polestar Automotive Holding UK by 207.5% during the 3rd quarter. Mariner LLC now owns 252,901 shares of the company’s stock valued at $668,000 after purchasing an additional 170,660 shares during the period. Green Alpha Advisors LLC purchased a new position in Polestar Automotive Holding UK during the 4th quarter valued at about $616,000. Raymond James & Associates increased its position in Polestar Automotive Holding UK by 36.5% during the 4th quarter. Raymond James & Associates now owns 29,532 shares of the company’s stock valued at $67,000 after purchasing an additional 7,900 shares during the period. Finally, Schechter Investment Advisors LLC purchased a new position in Polestar Automotive Holding UK during the 4th quarter valued at about $35,000. 1.02% of the stock is 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.