Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Rating Upgraded by Wall Street Zen

Polestar Automotive Holding UK (NASDAQ:PSNY) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other analysts have also commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a report on Friday, March 27th. Zacks Research raised Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Cantor Fitzgerald lowered Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Trading Up 1.3%

Polestar Automotive Holding UK stock opened at $17.92 on Friday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -0.92 and a beta of 1.29. The stock has a fifty day simple moving average of $18.36 and a two-hundred day simple moving average of $263.96. Polestar Automotive Holding UK has a 12 month low of $11.75 and a 12 month high of $42.60.

Institutional Trading of Polestar Automotive Holding UK

Large investors have recently modified their holdings of the company. 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 acquiring an additional 20,000 shares during the period. Russell Investments Group Ltd. grew its holdings 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 acquiring an additional 14,877 shares during the period. Focus Partners Wealth bought a new stake in shares of Polestar Automotive Holding UK in the first quarter worth $62,000. Captrust Financial Advisors grew its holdings in shares of Polestar Automotive Holding UK by 43.2% in the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after acquiring an additional 17,700 shares during the period. Finally, Cresset Asset Management LLC grew its holdings in shares of Polestar Automotive Holding UK by 26.7% in the second quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock worth $89,000 after acquiring an additional 17,590 shares during the period. Institutional investors own 1.02% of the company’s stock.

About Polestar Automotive Holding UK

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.