Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down – Should You Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $1.15, but opened at $1.12. Polestar Automotive Holding UK shares last traded at $1.17, with a volume of 456,753 shares.

Polestar Automotive Holding UK Stock Performance

The company’s 50-day moving average price is $1.05 and its 200 day moving average price is $1.08. The stock has a market cap of $2.55 billion, a PE ratio of -2.10 and a beta of 1.43.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of Polestar Automotive Holding UK during the fourth quarter worth about $33,000. Bank of New York Mellon Corp bought a new stake in shares of Polestar Automotive Holding UK during the fourth quarter valued at approximately $37,000. Alliancebernstein L.P. purchased a new position in shares of Polestar Automotive Holding UK in the fourth quarter worth $42,000. SCS Capital Management LLC bought a new position in shares of Polestar Automotive Holding UK during the first quarter worth $43,000. Finally, Tobam purchased a new position in Polestar Automotive Holding UK during the fourth quarter valued at $65,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

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.