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 Monday . The stock had previously closed at $0.60, but opened at $0.58. Polestar Automotive Holding UK shares last traded at $0.5830, with a volume of 917,355 shares traded.

Analyst Ratings Changes

Several research firms have recently commented on PSNY. Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Tuesday, November 25th. Zacks Research cut Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a report on Friday, November 14th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Thursday, September 4th. Finally, Wall Street Zen cut shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Sell”.

Polestar Automotive Holding UK Stock Performance

The business has a 50-day simple moving average of $0.76 and a 200-day simple moving average of $0.97. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -0.88 and a beta of 1.37.

Shares of Polestar Automotive Holding UK are scheduled to reverse split before the market opens 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of Polestar Automotive Holding UK by 45.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock valued at $51,000 after purchasing an additional 14,877 shares during the last quarter. Cresset Asset Management LLC grew its stake in shares of Polestar Automotive Holding UK by 26.7% during the second quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock worth $89,000 after purchasing an additional 17,590 shares in the last quarter. Captrust Financial Advisors increased its holdings in Polestar Automotive Holding UK by 43.2% in the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock valued at $63,000 after buying an additional 17,700 shares during the last quarter. Rathbones Group PLC raised its stake in Polestar Automotive Holding UK by 79.1% in the third quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock valued at $43,000 after buying an additional 20,000 shares in the last quarter. Finally, SCS Capital Management LLC purchased a new stake in Polestar Automotive Holding UK during the 1st quarter worth about $43,000. 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.