Polestar Automotive Holding UK (NASDAQ:PSNY) Downgraded by Cantor Fitzgerald to “Underweight”

Cantor Fitzgerald lowered shares of Polestar Automotive Holding UK (NASDAQ:PSNY) from a neutral rating to an underweight rating in a research report report published on Thursday morning, Marketbeat.com reports.

PSNY has been the topic of several other reports. Zacks Research upgraded shares of Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Price Performance

NASDAQ PSNY opened at $17.73 on Thursday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -0.91 and a beta of 1.33. The company has a 50 day simple moving average of $120.73 and a 200-day simple moving average of $560.39. Polestar Automotive Holding UK has a 52-week low of $11.75 and a 52-week high of $42.60.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of large investors have recently bought and sold shares of the business. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Polestar Automotive Holding UK during the fourth quarter valued at about $160,160,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Polestar Automotive Holding UK during the 4th quarter worth about $522,000. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Polestar Automotive Holding UK during the 4th quarter valued at about $3,111,000. JPMorgan Chase & Co. raised its stake in shares of Polestar Automotive Holding UK by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 167,188 shares of the company’s stock valued at $157,000 after acquiring an additional 10,780 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Polestar Automotive Holding UK by 128.7% in the 3rd quarter. Bank of America Corp DE now owns 164,594 shares of the company’s stock valued at $155,000 after acquiring an additional 92,621 shares in the last quarter. 1.02% of the stock is currently owned by institutional investors.

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.