Polestar Automotive Holding UK (NASDAQ:PSNY) Trading 4.9% Higher

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) rose 4.9% on Tuesday . The stock traded as high as $1.30 and last traded at $1.29. Approximately 1,314,604 shares were traded during trading, a decline of 60% from the average daily volume of 3,299,375 shares. The stock had previously closed at $1.23.

Analysts Set New Price Targets

PSNY has been the subject of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $2.00 price objective (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 research report on Wednesday, January 24th. They set an “underperform” rating and a $1.15 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price target on shares of Polestar Automotive Holding UK in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.83.

Polestar Automotive Holding UK Trading Up 7.3 %

The firm has a 50-day moving average of $1.54 and a 200 day moving average of $1.92.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new stake in Polestar Automotive Holding UK in the third quarter valued at approximately $25,000. Principal Street Partners LLC bought a new stake in Polestar Automotive Holding UK in the fourth quarter valued at approximately $28,000. Avantax Advisory Services Inc. bought a new stake in Polestar Automotive Holding UK in the third quarter valued at approximately $34,000. Schechter Investment Advisors LLC bought a new stake in Polestar Automotive Holding UK in the fourth quarter valued at approximately $35,000. Finally, TD Asset Management Inc bought a new stake in Polestar Automotive Holding UK in the third quarter valued at approximately $45,000. 1.02% of the stock is 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.