Polestar Automotive Holding UK (NASDAQ:PSNYW) Trading 1.6% Higher – What’s Next?

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW)’s stock price shot up 1.6% during trading on Monday . The company traded as high as $3.20 and last traded at $3.19. 3,190 shares were traded during trading, a decline of 61% from the average session volume of 8,085 shares. The stock had previously closed at $3.14.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Polestar Automotive Holding UK Trading Up 1.2%

The stock’s fifty day simple moving average is $3.88 and its two-hundred day simple moving average is $4.51.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A hedge fund recently bought a new stake in Polestar Automotive Holding UK stock. Boothbay Fund Management LLC bought a new stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 80,000 shares of the company’s stock, valued at approximately $510,000.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK plc is a special-purpose acquisition company (SPAC) incorporated in the United Kingdom with the primary objective of effecting a business combination, share exchange, asset acquisition or similar merger transaction with one or more businesses in the automotive sector. The company’s management team, supported by affiliates of The Gores Group and Guggenheim Partners, completed its initial public offering in mid-2021 and its units trade on the Nasdaq under the symbol PSNYW.

The SPAC was specifically formed to combine with Polestar Performance AB, the electric performance carmaker backed by Volvo Cars and Zhejiang Geely Holding Group.