Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Gets Price Target Cut from Barclays

Polestar Automotive Holding UK (NASDAQ:PSNY) had its target price decreased by Barclays from $15.00 to $5.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other equities analysts also recently weighed in on PSNY. Cantor Fitzgerald restated an “underweight” rating on shares of Polestar Automotive Holding UK in a report on Friday. Wall Street Zen lowered shares of Polestar Automotive Holding UK from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 5th. Finally, Weiss Ratings cut shares of Polestar Automotive Holding UK from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Polestar Automotive Holding UK currently has a consensus rating of “Strong Sell” and an average target price of $5.00.

Polestar Automotive Holding UK Price Performance

Shares of Polestar Automotive Holding UK stock opened at $5.26 on Friday. Polestar Automotive Holding UK has a 12-month low of $4.95 and a 12-month high of $29.10. The stock has a market cap of $490.97 million, a P/E ratio of -0.35 and a beta of 1.44. The business’s 50 day moving average is $10.08 and its 200-day moving average is $15.85.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Thursday, September 3rd. The company reported ($3.15) EPS for the quarter, missing the consensus estimate of ($2.19) by ($0.96). The firm had revenue of $680.05 million during the quarter, compared to the consensus estimate of $878.10 million. On average, sell-side analysts expect that Polestar Automotive Holding UK will post -0.40 EPS for the current year.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nykredit A S acquired a new position in Polestar Automotive Holding UK during the second quarter worth approximately $65,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Polestar Automotive Holding UK in the second quarter valued at approximately $277,000. EverSource Wealth Advisors LLC lifted its position in shares of Polestar Automotive Holding UK by 28,277.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,554 shares of the company’s stock valued at $47,000 after buying an additional 2,545 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Polestar Automotive Holding UK by 184.5% in the first quarter. California State Teachers Retirement System now owns 46,546 shares of the company’s stock valued at $857,000 after buying an additional 30,185 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Polestar Automotive Holding UK by 195.4% in the first quarter. Swiss National Bank now owns 88,893 shares of the company’s stock valued at $1,637,000 after buying an additional 58,800 shares during the last quarter. Institutional investors own 1.02% of the company’s stock.

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK PLC is the holding company of Polestar, a global electric vehicle brand founded in 2017 through a partnership involving Volvo Cars and Geely. The company is headquartered in Gothenburg, Sweden, and focuses on designing, developing and selling premium electric performance vehicles.

Polestar’s vehicle lineup has included the Polestar 2 fastback, an all-electric compact premium car; the Polestar 3 electric performance SUV; and the Polestar 4 electric SUV coupe.