Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Down 7.3% – Should You Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price was down 7.3% on Monday . The stock traded as low as $13.20 and last traded at $13.2810. Approximately 97,627 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 163,716 shares. The stock had previously closed at $14.33.

Analyst Ratings Changes

A number of research firms recently weighed in on PSNY. Zacks Research lowered shares of Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a research report on Friday, November 14th. Wall Street Zen cut Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a report on Monday, December 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Thursday, September 4th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Polestar Automotive Holding UK presently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Stock Down 4.8%

The business’s 50-day simple moving average is $21.61 and its two-hundred day simple moving average is $28.35. The firm has a market capitalization of $974.03 million, a price-to-earnings ratio of -20.76 and a beta of 1.38.

Polestar Automotive Holding UK’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 market closes on Monday, December 29th.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds have recently made changes to their positions in the business. UBS Group AG grew its holdings in shares of Polestar Automotive Holding UK by 22.6% in the third quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock valued at $2,265,000 after purchasing an additional 443,359 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Polestar Automotive Holding UK during the second quarter worth $326,000. Advisors Asset Management Inc. raised its stake in shares of 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 acquiring an additional 170,563 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in Polestar Automotive Holding UK by 224.7% in the second quarter. Quadrature Capital Ltd now owns 241,593 shares of the company’s stock valued at $260,000 after purchasing an additional 167,196 shares during the period. Finally, Deutsche Bank AG grew its stake 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 worth $835,000 after purchasing an additional 146,107 shares in the last quarter. Institutional investors and hedge funds own 1.02% of the company’s stock.

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.