Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Up 4% – Should You Buy?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price traded up 4% during trading on Monday . The company traded as high as $18.90 and last traded at $18.2410. 69,482 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 168,350 shares. The stock had previously closed at $17.54.

Analyst Ratings Changes

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

Polestar Automotive Holding UK Stock Performance

The stock’s 50 day moving average price is $553.28 and its 200-day moving average price is $805.25. The company has a market cap of $1.39 billion, a PE ratio of -1.00 and a beta of 1.37.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several institutional investors have recently bought and sold shares of the stock. SCS Capital Management LLC purchased a new position in Polestar Automotive Holding UK in the 1st quarter worth approximately $43,000. Rathbones Group PLC grew its holdings in shares of Polestar Automotive Holding UK by 79.1% in the third quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock worth $43,000 after purchasing an additional 20,000 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Polestar Automotive Holding UK by 45.0% in the second quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock worth $51,000 after buying an additional 14,877 shares during the period. Captrust Financial Advisors raised its holdings in 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 buying an additional 17,700 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in Polestar Automotive Holding UK during the 1st quarter valued at $62,000. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.