Polestar Automotive Holding UK (NASDAQ:PSNY) Trading 5.1% Higher – Time to Buy?

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) rose 5.1% on Friday . The company traded as high as $22.08 and last traded at $21.9340. Approximately 19,021 shares changed hands during trading, a decline of 90% from the average daily volume of 186,155 shares. The stock had previously closed at $20.87.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Friday, March 27th. Cantor Fitzgerald downgraded shares of Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research note on Thursday, February 19th. Finally, Wall Street Zen raised shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Polestar Automotive Holding UK Stock Up 4.7%

The stock has a 50-day moving average of $18.60 and a 200 day moving average of $191.14. The stock has a market cap of $2.04 billion, a PE ratio of -1.12 and a beta of 1.22.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its position in Polestar Automotive Holding UK by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock valued at $555,000 after purchasing an additional 57,717 shares during the period. Focus Partners Wealth acquired a new stake in Polestar Automotive Holding UK during the 1st quarter worth about $62,000. Russell Investments Group Ltd. raised its stake in shares of Polestar Automotive Holding UK by 45.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock valued at $51,000 after buying an additional 14,877 shares during the last quarter. Cresset Asset Management LLC raised its stake in shares of Polestar Automotive Holding UK by 26.7% during the 2nd quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock valued at $89,000 after buying an additional 17,590 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Polestar Automotive Holding UK in the 2nd quarter valued at about $326,000. Institutional investors and hedge funds own 1.02% of the company’s stock.

Polestar Automotive Holding UK Company Profile

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.