Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down to $1.31

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) gapped down prior to trading on Wednesday . The stock had previously closed at $1.31, but opened at $1.26. Polestar Automotive Holding UK shares last traded at $1.30, with a volume of 504,907 shares changing hands.

Analyst Upgrades and Downgrades

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

Polestar Automotive Holding UK Stock Down 1.1 %

The company has a 50 day moving average price of $1.63 and a 200-day moving average price of $2.02.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSNY. Green Alpha Advisors LLC lifted its holdings in shares of Polestar Automotive Holding UK by 2.4% during the first quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock worth $430,000 after purchasing an additional 6,528 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Polestar Automotive Holding UK by 252.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 78,256 shares of the company’s stock worth $177,000 after buying an additional 56,044 shares during the period. Legal & General Group Plc grew its position in shares of Polestar Automotive Holding UK by 48.1% in the 4th quarter. Legal & General Group Plc now owns 295,507 shares of the company’s stock valued at $669,000 after buying an additional 95,939 shares during the last quarter. Cantor Fitzgerald L. P. bought a new stake in shares of Polestar Automotive Holding UK in the 4th quarter valued at about $226,000. Finally, Pathstone Holdings LLC acquired a new stake in shares of Polestar Automotive Holding UK in the fourth quarter valued at about $439,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

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.