Polestar Automotive Holding UK (NASDAQ:PSNY) Trading 5.3% Higher

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) traded up 5.3% on Thursday . The stock traded as high as $1.45 and last traded at $1.38. 2,928,776 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 3,222,600 shares. The stock had previously closed at $1.31.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $2.00 target price (down from $3.00) on shares of Polestar Automotive Holding UK in a research note on Friday, March 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 target price on shares of Polestar Automotive Holding UK in a report on Friday, April 12th. Finally, Sanford C. Bernstein started coverage on shares of Polestar Automotive Holding UK in a report on Wednesday, January 24th. They set an “underperform” rating and a $1.15 target price on the stock. Two 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. According to MarketBeat.com, Polestar Automotive Holding UK presently has a consensus rating of “Hold” and an average price target of $3.83.

Polestar Automotive Holding UK Price Performance

The stock’s fifty day moving average is $1.62 and its two-hundred day moving average is $2.01.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of institutional investors and hedge funds have recently bought and sold shares of PSNY. Advisor Group Holdings Inc. grew its position in Polestar Automotive Holding UK by 41.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 27,270 shares of the company’s stock valued at $311,000 after buying an additional 7,964 shares in the last quarter. Raymond James & Associates grew its position in Polestar Automotive Holding UK by 92.8% in the 1st quarter. Raymond James & Associates now owns 43,730 shares of the company’s stock valued at $497,000 after buying an additional 21,050 shares in the last quarter. Cetera Advisor Networks LLC grew its position in Polestar Automotive Holding UK by 5.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 40,880 shares of the company’s stock valued at $465,000 after buying an additional 2,280 shares in the last quarter. Citigroup Inc. bought a new position in Polestar Automotive Holding UK in the 1st quarter valued at about $59,000. Finally, Hsbc Holdings PLC bought a new position in Polestar Automotive Holding UK in the 1st quarter valued at about $864,000. Institutional investors own 1.02% of the company’s stock.

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.