Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Down 7.9%

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY – Get Rating) were down 7.9% during mid-day trading on Friday . The company traded as low as $3.81 and last traded at $3.84. Approximately 1,430,624 shares were traded during trading, a decline of 42% from the average daily volume of 2,449,826 shares. The stock had previously closed at $4.17.

Analyst Ratings Changes

Separately, Barclays started coverage on Polestar Automotive Holding UK in a report on Tuesday, February 14th. They set an “equal weight” rating and a $7.00 target price for the company.

Polestar Automotive Holding UK Stock Performance

The stock has a fifty day simple moving average of $5.36 and a 200-day simple moving average of $5.68.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Hedge funds have recently modified their holdings of the stock. Clearline Capital LP bought a new position in shares of Polestar Automotive Holding UK in the 3rd quarter valued at about $811,000. Cetera Advisor Networks LLC bought a new position in Polestar Automotive Holding UK during the second quarter worth about $358,000. LMR Partners LLP increased its stake in Polestar Automotive Holding UK by 100.0% in the third quarter. LMR Partners LLP now owns 150,000 shares of the company’s stock valued at $759,000 after acquiring an additional 75,000 shares during the last quarter. Saba Capital Management L.P. increased its stake in Polestar Automotive Holding UK by 33.3% in the third quarter. Saba Capital Management L.P. now owns 4,250,267 shares of the company’s stock valued at $21,506,000 after acquiring an additional 1,060,892 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Polestar Automotive Holding UK in the second quarter valued at approximately $1,190,000. Institutional investors own 1.31% of the company’s stock.

Polestar Automotive Holding UK Company Profile

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