Polestar Automotive Holding UK PLC (NASDAQ:PSNY – Get Free Report) was the target of some unusual options trading on Thursday. Stock traders acquired 6,667 call options on the company. This represents an increase of approximately 45% compared to the typical volume of 4,589 call options.
Institutional Trading of Polestar Automotive Holding UK
Several hedge funds have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC increased its holdings in shares of Polestar Automotive Holding UK by 67.4% in the 1st quarter. Wolverine Asset Management LLC now owns 7,475 shares of the company’s stock worth $28,000 after buying an additional 3,010 shares during the last quarter. BlackRock Inc. bought a new stake in Polestar Automotive Holding UK during the third quarter valued at approximately $36,000. Cowen AND Company LLC bought a new stake in Polestar Automotive Holding UK during the 1st quarter valued at approximately $38,000. Cerity Partners LLC bought a new stake in Polestar Automotive Holding UK in the 1st quarter valued at $38,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at approximately $44,000. Institutional investors own 0.82% of the company’s stock.
Polestar Automotive Holding UK Stock Performance
Shares of NASDAQ:PSNY opened at $2.87 on Friday. The company’s 50 day moving average price is $4.07 and its two-hundred day moving average price is $3.92. Polestar Automotive Holding UK has a 12-month low of $2.81 and a 12-month high of $8.26.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on PSNY shares. Citigroup assumed coverage on shares of Polestar Automotive Holding UK in a research report on Friday, July 21st. They issued a “neutral” rating for the company. Barclays lowered Polestar Automotive Holding UK from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $5.00 to $3.00 in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 target price on shares of Polestar Automotive Holding UK in a research note on Friday, September 1st. Finally, R. F. Lafferty assumed coverage on shares of Polestar Automotive Holding UK in a research note on Tuesday, August 1st. They issued a “buy” rating and a $9.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Polestar Automotive Holding UK presently has a consensus rating of “Hold” and a consensus price target of $7.40.
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.
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