Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Down 7.3% – What’s Next?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) fell 7.3% on Monday . The stock traded as low as $13.20 and last traded at $13.2810. 97,627 shares changed hands during trading, a decline of 40% from the average session volume of 163,716 shares. The stock had previously closed at $14.33.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PSNY shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Thursday, September 4th. Wall Street Zen lowered shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Zacks Research cut shares of Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a research note on Friday, November 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Sell”.

Polestar Automotive Holding UK Stock Performance

The stock has a 50-day moving average price of $21.02 and a two-hundred day moving average price of $28.07. The stock has a market capitalization of $885.80 million, a PE ratio of -0.64 and a beta of 1.37.

Polestar Automotive Holding UK’s stock is scheduled to reverse split on 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 closing bell on Monday, December 29th.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of institutional investors have recently bought and sold shares of PSNY. Bank of America Corp DE lifted its position in shares of Polestar Automotive Holding UK by 128.7% in the third quarter. Bank of America Corp DE now owns 164,594 shares of the company’s stock worth $155,000 after buying an additional 92,621 shares in the last quarter. UBS Group AG increased its stake in Polestar Automotive Holding UK by 22.6% in the 3rd quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock worth $2,265,000 after acquiring an additional 443,359 shares during the last quarter. Rathbones Group PLC raised its holdings in shares of Polestar Automotive Holding UK by 79.1% during the 3rd quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock worth $43,000 after acquiring an additional 20,000 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Polestar Automotive Holding UK by 43.2% during the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock valued at $63,000 after acquiring an additional 17,700 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in shares of Polestar Automotive Holding UK by 99.1% in the second quarter. Rafferty Asset Management LLC now owns 106,630 shares of the company’s stock valued at $114,000 after purchasing an additional 53,086 shares in the last quarter. Hedge funds and other institutional investors 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.