Polestar Automotive Holding UK (NASDAQ:PSNY) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) saw strong trading volume on Thursday . 297,335 shares traded hands during trading, an increase of 90% from the previous session’s volume of 156,837 shares.The stock last traded at $12.55 and had previously closed at $14.11.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday. Zacks Research lowered Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a research note on Friday, November 14th. Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Thursday, September 4th. Finally, Wall Street Zen downgraded Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Price Performance

The business has a fifty day moving average of $21.61 and a 200-day moving average of $28.41. The stock has a market cap of $1.02 billion, a PE ratio of -22.05 and a beta of 1.37.

Polestar Automotive Holding UK’s stock is going to reverse split on the morning of Tuesday, December 30th. The 1-30 reverse split was announced on Monday, November 17th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 29th.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Hedge funds have recently modified their holdings of the business. UBS Group AG grew its position in Polestar Automotive Holding UK by 22.6% during the 3rd quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock worth $2,265,000 after purchasing an additional 443,359 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Polestar Automotive Holding UK during the second quarter valued at $326,000. Advisors Asset Management Inc. increased its position in shares of Polestar Automotive Holding UK by 61.2% in the 1st quarter. Advisors Asset Management Inc. now owns 449,227 shares of the company’s stock valued at $472,000 after acquiring an additional 170,563 shares during the period. Quadrature Capital Ltd raised its stake in Polestar Automotive Holding UK by 224.7% in the 2nd quarter. Quadrature Capital Ltd now owns 241,593 shares of the company’s stock worth $260,000 after acquiring an additional 167,196 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Polestar Automotive Holding UK by 22.5% during the 1st quarter. Deutsche Bank AG now owns 794,873 shares of the company’s stock worth $835,000 after acquiring an additional 146,107 shares during the period. 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.