Polestar Automotive Holding UK (NASDAQ:PSNY) Hits New 52-Week Low at $1.22

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.22 and last traded at $1.22, with a volume of 1158766 shares changing hands. The stock had previously closed at $1.27.

Analysts Set New Price Targets

A number of research firms have issued reports on PSNY. Piper Sandler reissued a “neutral” rating and set a $2.00 target price (down from $3.00) on shares of Polestar Automotive Holding UK in a research note on Friday, March 15th. Sanford C. Bernstein assumed coverage on shares of Polestar Automotive Holding UK in a research note on Wednesday, January 24th. They set an “underperform” rating and a $1.15 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 price target on shares of Polestar Automotive Holding UK in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Polestar Automotive Holding UK has a consensus rating of “Hold” and an average target price of $3.83.

Polestar Automotive Holding UK Stock Down 5.6 %

The business’s 50 day moving average price is $1.56 and its two-hundred day moving average price is $1.96.

Institutional Trading of Polestar Automotive Holding UK

A number of institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its holdings in shares of Polestar Automotive Holding UK by 109.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 24,346 shares of the company’s stock worth $64,000 after purchasing an additional 12,697 shares in the last quarter. TD Asset Management Inc bought a new stake in shares of Polestar Automotive Holding UK in the 3rd quarter worth approximately $45,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Polestar Automotive Holding UK by 7.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 171,965 shares of the company’s stock worth $454,000 after purchasing an additional 11,899 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Polestar Automotive Holding UK in the 3rd quarter worth approximately $34,000. Finally, Pathstone Family Office LLC raised its holdings in shares of Polestar Automotive Holding UK by 87.8% in the 3rd quarter. Pathstone Family Office LLC now owns 84,510 shares of the company’s stock worth $223,000 after purchasing an additional 39,510 shares in the last quarter. 1.02% of the stock is owned by institutional investors and hedge funds.

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.