Polestar Automotive Holding UK (NASDAQ:PSNY) Upgraded at Zacks Research

Zacks Research upgraded shares of Polestar Automotive Holding UK (NASDAQ:PSNY) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on PSNY. Wall Street Zen lowered Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Polestar Automotive Holding UK has an average rating of “Reduce”.

Polestar Automotive Holding UK Stock Performance

NASDAQ PSNY opened at $21.72 on Monday. Polestar Automotive Holding UK has a 52-week low of $11.75 and a 52-week high of $42.60. The company has a market capitalization of $1.55 billion, a P/E ratio of -1.11 and a beta of 1.34. The company has a fifty day moving average of $392.35 and a 200-day moving average of $732.98.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in shares of Polestar Automotive Holding UK by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock valued at $555,000 after purchasing an additional 57,717 shares during the period. Quadrature Capital Ltd raised its holdings in Polestar Automotive Holding UK by 224.7% during the 2nd quarter. Quadrature Capital Ltd now owns 241,593 shares of the company’s stock valued at $260,000 after buying an additional 167,196 shares during the last quarter. Rathbones Group PLC boosted its position in Polestar Automotive Holding UK by 79.1% during the 3rd quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock valued at $43,000 after buying an additional 20,000 shares during the period. JPMorgan Chase & Co. boosted its position in Polestar Automotive Holding UK by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 167,188 shares of the company’s stock valued at $157,000 after buying an additional 10,780 shares during the period. Finally, Bank of America Corp DE grew its holdings in Polestar Automotive Holding UK by 128.7% in the 3rd quarter. Bank of America Corp DE now owns 164,594 shares of the company’s stock worth $155,000 after acquiring an additional 92,621 shares during the last quarter. 1.02% of the stock is currently owned by 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.