Polestar Automotive Holding UK (NASDAQ:PSNY) Trading 4.9% Higher

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s share price traded up 4.9% during mid-day trading on Tuesday . The stock traded as high as $1.30 and last traded at $1.29. 1,314,604 shares traded hands during trading, a decline of 60% from the average session volume of 3,299,375 shares. The stock had previously closed at $1.23.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price target on shares of Polestar Automotive Holding UK in a report on Friday, April 12th. Piper Sandler reissued a “neutral” rating and issued a $2.00 price objective (down from $3.00) on shares of Polestar Automotive Holding UK in a research note on Friday, March 15th. Finally, Sanford C. Bernstein started coverage on Polestar Automotive Holding UK in a research note on Wednesday, January 24th. They issued an “underperform” rating and a $1.15 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Polestar Automotive Holding UK presently has a consensus rating of “Hold” and an average price target of $3.83.

Polestar Automotive Holding UK Stock Up 7.3 %

The company has a 50-day simple moving average of $1.54 and a 200 day simple moving average of $1.92.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in Polestar Automotive Holding UK by 10.7% in the 3rd quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock worth $7,481,000 after buying an additional 273,479 shares during the period. Tobam increased its position in Polestar Automotive Holding UK by 24.0% in the 4th quarter. Tobam now owns 1,136,540 shares of the company’s stock worth $2,569,000 after buying an additional 220,147 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Polestar Automotive Holding UK by 24.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 574,550 shares of the company’s stock worth $1,517,000 after buying an additional 112,900 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Polestar Automotive Holding UK by 67.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 288,172 shares of the company’s stock worth $608,000 after buying an additional 116,207 shares during the period. Finally, Green Alpha Advisors LLC increased its position in Polestar Automotive Holding UK by 2.4% in the 1st quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock worth $430,000 after buying an additional 6,528 shares during the period. 1.02% of the stock is owned by institutional investors.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.