Cantor Fitzgerald Reaffirms Overweight Rating for Polestar Automotive Holding UK (NASDAQ:PSNY)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Polestar Automotive Holding UK (NASDAQ:PSNY) in a research note issued to investors on Friday, Benzinga reports. Cantor Fitzgerald currently has a $5.00 price target on the stock.

Several other equities analysts also recently issued reports on PSNY. Piper Sandler reissued a neutral rating and issued a $2.00 target price (down from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Sanford C. Bernstein assumed coverage on Polestar Automotive Holding UK in a report on Wednesday, January 24th. They issued an underperform rating and a $1.15 price objective on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $3.83.

Polestar Automotive Holding UK Stock Performance

Shares of Polestar Automotive Holding UK stock opened at $1.32 on Friday. The firm’s 50 day simple moving average is $1.64 and its two-hundred day simple moving average is $2.03. Polestar Automotive Holding UK has a 12-month low of $1.24 and a 12-month high of $4.96.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several hedge funds have recently added to or reduced their stakes in PSNY. Alyeska Investment Group L.P. boosted its position in Polestar Automotive Holding UK by 744.0% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,451,571 shares of the company’s stock worth $27,874,000 after purchasing an additional 2,161,109 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at $3,981,000. BlackRock Inc. boosted its holdings in Polestar Automotive Holding UK by 144.9% during the second quarter. BlackRock Inc. now owns 1,217,387 shares of the company’s stock worth $4,650,000 after buying an additional 720,285 shares in the last quarter. First Trust Advisors LP grew its position in Polestar Automotive Holding UK by 1,271.0% during the first quarter. First Trust Advisors LP now owns 513,168 shares of the company’s stock valued at $1,945,000 after buying an additional 475,739 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Polestar Automotive Holding UK in the fourth quarter valued at $869,000. 1.02% of the stock is owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.