Polestar Automotive Holding UK (NASDAQ:PSNY) Trading 8.1% Higher – What’s Next?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares traded up 8.1% on Monday . The stock traded as high as $13.44 and last traded at $13.8240. 12,794 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 166,085 shares. The stock had previously closed at $12.79.

Wall Street Analysts Forecast Growth

PSNY has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Monday, December 15th. Zacks Research downgraded Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a report on Friday, November 14th. Wall Street Zen lowered Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Polestar Automotive Holding UK Trading Up 11.2%

The firm has a market cap of $1.02 billion, a P/E ratio of -0.73 and a beta of 1.37. The firm’s 50 day moving average is $20.13 and its two-hundred day moving average is $27.67.

Shares of Polestar Automotive Holding UK are going to reverse split on Tuesday, December 30th. The 1-30 reverse split was announced on Monday, November 17th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 29th.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG lifted its holdings 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 worth $2,265,000 after acquiring an additional 443,359 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Polestar Automotive Holding UK in the second quarter worth about $326,000. Advisors Asset Management Inc. raised its position in shares of Polestar Automotive Holding UK by 61.2% during the first quarter. Advisors Asset Management Inc. now owns 449,227 shares of the company’s stock worth $472,000 after purchasing an additional 170,563 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of 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 purchasing an additional 167,196 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Polestar Automotive Holding UK by 22.5% during the 1st quarter. Deutsche Bank AG now owns 794,873 shares of the company’s stock valued at $835,000 after purchasing an additional 146,107 shares in the last quarter. Institutional investors and hedge funds 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.