Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Rating Lowered by Cantor Fitzgerald

Polestar Automotive Holding UK (NASDAQ:PSNY) was downgraded by Cantor Fitzgerald from a “neutral” rating to an “underweight” rating in a report released on Thursday, MarketBeat Ratings reports.

A number of other research firms have also weighed in on PSNY. Zacks Research upgraded shares of Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Stock Down 2.7%

NASDAQ PSNY opened at $16.36 on Thursday. The stock’s 50-day moving average price is $127.58 and its 200-day moving average price is $564.19. The company has a market capitalization of $1.17 billion, a P/E ratio of -0.84 and a beta of 1.33. Polestar Automotive Holding UK has a 52 week low of $11.75 and a 52 week high of $42.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors increased its stake in Polestar Automotive Holding UK by 43.2% in the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after acquiring an additional 17,700 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Polestar Automotive Holding UK by 99.1% in the second quarter. Rafferty Asset Management LLC now owns 106,630 shares of the company’s stock valued at $114,000 after purchasing an additional 53,086 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Polestar Automotive Holding UK by 18.6% in the second quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock valued at $491,000 after purchasing an additional 72,023 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Polestar Automotive Holding UK in the second quarter worth $326,000. Finally, Cresset Asset Management LLC raised its stake in Polestar Automotive Holding UK by 26.7% during the second quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock valued at $89,000 after purchasing an additional 17,590 shares in the last quarter. Institutional investors own 1.02% of the company’s stock.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.