Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Down 5.1% – Should You Sell?

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) traded down 5.1% during trading on Monday . The stock traded as low as $0.95 and last traded at $0.97. 5,127,689 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 7,216,251 shares. The stock had previously closed at $1.02.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 price target on shares of Polestar Automotive Holding UK in a report on Tuesday, September 10th. Bank of America assumed coverage on Polestar Automotive Holding UK in a research note on Thursday, December 5th. They set a “neutral” rating and a $1.25 target price for the company. Sanford C. Bernstein boosted their price target on Polestar Automotive Holding UK from $0.74 to $0.78 and gave the stock an “underperform” rating in a report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.00 target price on shares of Polestar Automotive Holding UK in a research report on Monday, September 30th. Finally, Piper Sandler lowered their price objective on Polestar Automotive Holding UK from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1.53.

Polestar Automotive Holding UK Trading Down 5.3 %

The stock has a market cap of $1.83 billion, a P/E ratio of -1.50 and a beta of 1.53. The business has a 50-day simple moving average of $1.18 and a 200 day simple moving average of $1.09.

Institutional Trading of Polestar Automotive Holding UK

Several institutional investors have recently added to or reduced their stakes in PSNY. Public Employees Retirement Association of Colorado bought a new position in Polestar Automotive Holding UK during the second quarter worth $26,000. MetLife Investment Management LLC lifted its stake in shares of Polestar Automotive Holding UK by 134.4% in the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock valued at $26,000 after purchasing an additional 8,823 shares during the period. SG Americas Securities LLC bought a new stake in shares of Polestar Automotive Holding UK during the 2nd quarter valued at about $32,000. Versor Investments LP acquired a new stake in Polestar Automotive Holding UK during the second quarter worth approximately $47,000. Finally, Captrust Financial Advisors grew its stake in Polestar Automotive Holding UK by 125.4% during the third quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after purchasing an additional 25,930 shares during the period. 1.02% of the stock is currently owned by 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.