Polestar Automotive Holding UK (NASDAQ:PSNY) Sets New 1-Year Low at $1.26

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) reached a new 52-week low on Monday . The stock traded as low as $1.26 and last traded at $1.27, with a volume of 2196707 shares changing hands. The stock had previously closed at $1.46.

Wall Street Analysts Forecast Growth

PSNY has been the topic of several analyst reports. Piper Sandler reissued a “neutral” rating and set a $2.00 target price (down previously from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 target price on shares of Polestar Automotive Holding UK in a research report on Friday, April 12th. Finally, Sanford C. Bernstein initiated coverage on Polestar Automotive Holding UK in a research report on Wednesday, January 24th. They set an “underperform” rating and a $1.15 target price on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.83.

Polestar Automotive Holding UK Trading Down 1.1 %

The stock has a fifty day moving average of $1.63 and a 200-day moving average of $2.02.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of large investors have recently bought and sold shares of the business. Cetera Advisor Networks LLC boosted its holdings in Polestar Automotive Holding UK by 5.9% during the 1st quarter. Cetera Advisor Networks LLC now owns 40,880 shares of the company’s stock valued at $465,000 after acquiring an additional 2,280 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Polestar Automotive Holding UK by 45.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,245 shares of the company’s stock valued at $77,000 after acquiring an additional 4,782 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Polestar Automotive Holding UK by 32.2% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 20,991 shares of the company’s stock valued at $47,000 after acquiring an additional 5,115 shares during the period. UBS Group AG purchased a new position in Polestar Automotive Holding UK during the 2nd quarter valued at $46,000. Finally, Citigroup Inc. purchased a new position in Polestar Automotive Holding UK during the 1st quarter valued at $59,000. 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.