Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down to $1.31

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $1.31, but opened at $1.26. Polestar Automotive Holding UK shares last traded at $1.30, with a volume of 504,907 shares trading hands.

Analyst Ratings Changes

Several research analysts recently commented on the company. Sanford C. Bernstein started coverage on Polestar Automotive Holding UK in a research report on Wednesday, January 24th. They issued an “underperform” rating and a $1.15 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 target price on shares of Polestar Automotive Holding UK in a research note on Friday, April 12th. Finally, Piper Sandler restated a “neutral” rating and issued a $2.00 target price (down previously from $3.00) on shares of Polestar Automotive Holding UK in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from 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 Stock Performance

The stock’s 50-day moving average price is $1.63 and its 200-day moving average price is $2.02.

Institutional Inflows and Outflows

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

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.