Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down – Time to Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $1.22, but opened at $1.09. Polestar Automotive Holding UK shares last traded at $1.06, with a volume of 3,553,861 shares.

Analysts Set New Price Targets

Several brokerages have weighed in on PSNY. Bank of America started coverage on Polestar Automotive Holding UK in a report on Thursday, December 5th. They issued a “neutral” rating and a $1.25 price objective for the company. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Friday. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1.53.

Polestar Automotive Holding UK Trading Up 0.5 %

The company has a market cap of $2.33 billion, a P/E ratio of -1.91 and a beta of 1.53. The company has a 50 day moving average price of $1.09 and a 200-day moving average price of $1.14.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado acquired a new position in shares of Polestar Automotive Holding UK during the second quarter worth $26,000. MetLife Investment Management LLC grew its position in Polestar Automotive Holding UK by 134.4% during the 3rd quarter. MetLife Investment Management LLC now owns 15,390 shares of the company’s stock worth $26,000 after acquiring an additional 8,823 shares during the last quarter. Captrust Financial Advisors increased its holdings in Polestar Automotive Holding UK by 125.4% in the 3rd quarter. Captrust Financial Advisors now owns 46,615 shares of the company’s stock worth $80,000 after purchasing an additional 25,930 shares in the last quarter. XTX Topco Ltd raised its position in Polestar Automotive Holding UK by 153.1% in the second quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock valued at $119,000 after purchasing an additional 91,139 shares during the last quarter. Finally, Scientech Research LLC acquired a new stake in shares of Polestar Automotive Holding UK during the second quarter valued at about $161,000. Institutional investors and hedge funds 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.