Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down to $1.34

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $1.34, but opened at $1.30. Polestar Automotive Holding UK shares last traded at $1.29, with a volume of 630,986 shares traded.

Wall Street Analysts Forecast Growth

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

Polestar Automotive Holding UK Stock Down 4.9 %

The company has a 50 day moving average of $1.59 and a two-hundred day moving average of $1.98.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Polestar Automotive Holding UK by 32.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock worth $47,000 after buying an additional 5,115 shares during the last quarter. Green Alpha Advisors LLC boosted its holdings in Polestar Automotive Holding UK by 2.4% in the 1st quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock worth $430,000 after buying an additional 6,528 shares during the last quarter. Raymond James & Associates boosted its holdings in Polestar Automotive Holding UK by 36.5% in the 4th quarter. Raymond James & Associates now owns 29,532 shares of the company’s stock worth $67,000 after buying an additional 7,900 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in Polestar Automotive Holding UK by 18.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 62,999 shares of the company’s stock worth $166,000 after buying an additional 9,942 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Polestar Automotive Holding UK in the 3rd quarter worth about $25,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

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.