Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Up 4.9%

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price was up 4.9% on Tuesday . The stock traded as high as $1.30 and last traded at $1.29. Approximately 1,314,604 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 3,299,375 shares. The stock had previously closed at $1.23.

Wall Street Analysts Forecast Growth

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

Polestar Automotive Holding UK Stock Up 0.7 %

The firm’s 50 day moving average price is $1.53 and its two-hundred day moving average price is $1.91.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its position in Polestar Automotive Holding UK by 10.7% in the third quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock valued at $7,481,000 after purchasing an additional 273,479 shares during the period. Green Alpha Advisors LLC acquired a new stake in shares of Polestar Automotive Holding UK during the 4th quarter worth about $616,000. Tobam raised its holdings in Polestar Automotive Holding UK by 24.0% in the 4th quarter. Tobam now owns 1,136,540 shares of the company’s stock valued at $2,569,000 after buying an additional 220,147 shares during the period. Canada Pension Plan Investment Board acquired a new position in Polestar Automotive Holding UK in the third quarter valued at about $532,000. Finally, Mariner LLC boosted its stake in Polestar Automotive Holding UK by 207.5% during the third quarter. Mariner LLC now owns 252,901 shares of the company’s stock worth $668,000 after buying an additional 170,660 shares during the period. 1.02% of the stock is currently owned by institutional investors and hedge funds.

About Polestar Automotive Holding UK

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