Barclays Raises Polestar Automotive Holding UK (NASDAQ:PSNY) Price Target to $15.00

Polestar Automotive Holding UK (NASDAQ:PSNY) had its price target hoisted by equities researchers at Barclays from $1.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price objective suggests a potential downside of 12.54% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Zacks Research raised 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 reissued a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday, December 29th. Finally, Wall Street Zen cut Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $15.00.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ PSNY opened at $17.15 on Friday. Polestar Automotive Holding UK has a fifty-two week low of $11.75 and a fifty-two week high of $42.60. The company has a market cap of $1.22 billion, a PE ratio of -0.88 and a beta of 1.34. The business has a 50-day simple moving average of $315.97 and a two-hundred day simple moving average of $694.18.

Institutional Trading of Polestar Automotive Holding UK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSNY. UBS Group AG raised its position in shares of Polestar Automotive Holding UK by 22.6% in the third quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock worth $2,265,000 after acquiring an additional 443,359 shares during the period. Goldman Sachs Group Inc. raised its holdings in Polestar Automotive Holding UK by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock worth $555,000 after purchasing an additional 57,717 shares during the period. California State Teachers Retirement System boosted its position in Polestar Automotive Holding UK by 18.6% during the second quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock worth $491,000 after purchasing an additional 72,023 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Polestar Automotive Holding UK during the second quarter worth approximately $326,000. Finally, Quadrature Capital Ltd grew its holdings in Polestar Automotive Holding UK by 224.7% in the second quarter. Quadrature Capital Ltd now owns 241,593 shares of the company’s stock valued at $260,000 after purchasing an additional 167,196 shares during the period. 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.