Polestar Automotive Holding UK (NASDAQ:PSNY) Trading 5.3% Higher

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) rose 5.3% during trading on Thursday . The stock traded as high as $1.45 and last traded at $1.38. Approximately 2,928,776 shares were traded during trading, a decline of 9% from the average daily volume of 3,222,600 shares. The stock had previously closed at $1.31.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $2.00 price objective (down from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Sanford C. Bernstein initiated coverage on Polestar Automotive Holding UK in a report on Wednesday, January 24th. They set an “underperform” rating and a $1.15 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price objective on shares of Polestar Automotive Holding UK in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Polestar Automotive Holding UK currently has an average rating of “Hold” and a consensus target price of $3.83.

Polestar Automotive Holding UK Stock Performance

The company’s 50 day moving average is $1.62 and its 200 day moving average is $2.01.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Advisor Networks LLC raised its stake in 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 acquiring an additional 2,280 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Polestar Automotive Holding UK by 45.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,245 shares of the company’s stock worth $77,000 after acquiring an additional 4,782 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Polestar Automotive Holding UK by 32.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock worth $47,000 after acquiring an additional 5,115 shares in the last quarter. UBS Group AG acquired a new stake in Polestar Automotive Holding UK during the 2nd quarter worth $46,000. Finally, Citigroup Inc. acquired a new stake in Polestar Automotive Holding UK during the 1st quarter worth $59,000. 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.