Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Up 5.9% – Here’s Why

by · The Cerbat Gem

Polestar Automotive Holding UK PLC (NASDAQ:PSNY – Get Free Report) shares rose 5.9% on Thursday . The stock traded as high as $1.17 and last traded at $1.17. Approximately 4,885,448 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 5,352,650 shares. The stock had previously closed at $1.10.

Wall Street Analyst Weigh In

PSNY has been the subject of several analyst reports. Bank of America initiated coverage on Polestar Automotive Holding UK in a report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 target price for the company. Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $1.53.

Get Our Latest Analysis on PSNY

Polestar Automotive Holding UK Price Performance

The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -1.93 and a beta of 1.52. The business has a fifty day moving average price of $1.08 and a 200 day moving average price of $1.18.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PSNY. Swiss National Bank acquired a new position in shares of Polestar Automotive Holding UK in the fourth quarter valued at $855,000. Geode Capital Management LLC raised its stake in shares of Polestar Automotive Holding UK by 444.0% in the third quarter. Geode Capital Management LLC now owns 854,999 shares of the company’s stock valued at $1,471,000 after purchasing an additional 697,820 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Polestar Automotive Holding UK in the fourth quarter valued at $681,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Polestar Automotive Holding UK in the fourth quarter valued at $610,000. Finally, Northern Trust Corp acquired a new position in shares of Polestar Automotive Holding UK in the fourth quarter valued at $548,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

About Polestar Automotive Holding UK

(Get Free Report)

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

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