Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down to $1.34

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $1.34, but opened at $1.30. Polestar Automotive Holding UK shares last traded at $1.29, with a volume of 630,986 shares traded.

Analyst Ratings Changes

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

Polestar Automotive Holding UK Stock Performance

The firm has a 50 day moving average price of $1.58 and a 200 day moving average price of $1.96.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new position in Polestar Automotive Holding UK in the third quarter valued at about $25,000. Principal Street Partners LLC purchased a new position in Polestar Automotive Holding UK in the fourth quarter valued at about $28,000. Avantax Advisory Services Inc. purchased a new position in Polestar Automotive Holding UK in the third quarter valued at about $34,000. Schechter Investment Advisors LLC purchased a new position in Polestar Automotive Holding UK in the fourth quarter valued at about $35,000. Finally, TD Asset Management Inc purchased a new position in Polestar Automotive Holding UK in the third quarter valued at about $45,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

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.