Polestar Automotive Holding UK Sees Unusually High Options Volume (NASDAQ:PSNY)

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) saw unusually large options trading activity on Friday. Stock traders acquired 6,094 put options on the company. This is an increase of 46% compared to the average daily volume of 4,181 put options.

Wall Street Analyst Weigh In

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

Polestar Automotive Holding UK Price Performance

NASDAQ:PSNY traded up $0.01 during midday trading on Friday, hitting $1.34. The company’s stock had a trading volume of 2,466,937 shares, compared to its average volume of 3,229,502. Polestar Automotive Holding UK has a fifty-two week low of $1.24 and a fifty-two week high of $4.96. The firm’s 50 day moving average is $1.61 and its 200-day moving average is $2.01.

Hedge Funds Weigh In On Polestar Automotive Holding UK

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

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.