Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Rating Lowered by Cantor Fitzgerald

Polestar Automotive Holding UK (NASDAQ:PSNY) was downgraded by investment analysts at Cantor Fitzgerald from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Thursday, MarketBeat reports.

Other equities research analysts have also issued research reports about the company. Zacks Research upgraded Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Polestar Automotive Holding UK Price Performance

PSNY opened at $17.22 on Thursday. The company has a 50 day simple moving average of $112.48 and a two-hundred day simple moving average of $553.95. The firm has a market cap of $1.23 billion, a P/E ratio of -0.88 and a beta of 1.33. Polestar Automotive Holding UK has a 1-year low of $11.75 and a 1-year high of $42.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Polestar Automotive Holding UK in the fourth quarter valued at $160,160,000. UBS Group AG lifted its position in Polestar Automotive Holding UK by 22.6% during the third quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock valued at $2,265,000 after purchasing an additional 443,359 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Polestar Automotive Holding UK by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock worth $555,000 after buying an additional 57,717 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Polestar Automotive Holding UK by 18.6% in the 2nd quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock worth $491,000 after buying an additional 72,023 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Polestar Automotive Holding UK in the 2nd quarter worth about $326,000. 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.