Zacks Research Upgrades Polestar Automotive Holding UK (NASDAQ:PSNY) to “Hold”

Polestar Automotive Holding UK (NASDAQ:PSNY) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also commented on PSNY. Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a report on Monday, December 29th. Wall Street Zen downgraded shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Polestar Automotive Holding UK presently has an average rating of “Reduce”.

Polestar Automotive Holding UK Trading Up 3.8%

Polestar Automotive Holding UK stock opened at $20.52 on Monday. Polestar Automotive Holding UK has a 1-year low of $11.75 and a 1-year high of $42.60. The firm has a 50-day moving average of $406.32 and a 200-day moving average of $737.99. The firm has a market cap of $1.47 billion, a P/E ratio of -1.05 and a beta of 1.34.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. UBS Group AG boosted its stake in Polestar Automotive Holding UK by 22.6% during 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 in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of 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 last quarter. California State Teachers Retirement System boosted its position in shares of Polestar Automotive Holding UK by 18.6% in the 2nd 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 stake in shares of Polestar Automotive Holding UK in the 2nd quarter worth approximately $326,000. Finally, Quadrature Capital Ltd raised its stake in Polestar Automotive Holding UK by 224.7% during the second quarter. Quadrature Capital Ltd now owns 241,593 shares of the company’s stock valued at $260,000 after buying an additional 167,196 shares during the last quarter. 1.02% of the stock is owned by hedge funds and other institutional investors.

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.