Polestar Automotive Holding UK Shares Scheduled to Reverse Split on Tuesday, December 30th (NASDAQ:PSNY)

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock is 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.

Polestar Automotive Holding UK Price Performance

Shares of PSNY stock opened at $12.55 on Thursday. The firm has a fifty day moving average of $20.71 and a two-hundred day moving average of $27.96. The firm has a market cap of $896.20 million, a P/E ratio of -0.64 and a beta of 1.37. Polestar Automotive Holding UK has a 1-year low of $11.75 and a 1-year high of $42.60.

Analysts Set New Price Targets

Several analysts recently weighed in on PSNY shares. Cantor Fitzgerald reissued a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Thursday, September 4th. Zacks Research lowered Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a research 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, Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Monday. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Sell”.

Institutional Trading of Polestar Automotive Holding UK

Institutional investors and hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG boosted its position in 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 during the period. Invesco Ltd. increased its position in Polestar Automotive Holding UK by 1,096.8% in the first quarter. Invesco Ltd. now owns 146,238 shares of the company’s stock worth $154,000 after buying an additional 134,019 shares during the period. Goldman Sachs Group Inc. increased its position in Polestar Automotive Holding UK by 12.2% in the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock worth $555,000 after buying an additional 57,717 shares during the period. Advisors Asset Management Inc. lifted its stake in Polestar Automotive Holding UK by 61.2% in the first quarter. Advisors Asset Management Inc. now owns 449,227 shares of the company’s stock valued at $472,000 after buying an additional 170,563 shares during the last quarter. Finally, SCS Capital Management LLC acquired a new position in shares of Polestar Automotive Holding UK during the first quarter valued at $43,000. 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.