Polestar Automotive Holding UK (NASDAQ:PSNY) Earns Neutral Rating from Cantor Fitzgerald

Polestar Automotive Holding UK (NASDAQ:PSNY)‘s stock had its “neutral” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report released on Friday, Marketbeat Ratings reports.

Separately, Bank of America assumed coverage on shares of Polestar Automotive Holding UK in a research note on Thursday, December 5th. They issued a “neutral” rating and a $1.25 target price for the company. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Polestar Automotive Holding UK currently has a consensus rating of “Hold” and a consensus price target of $1.53.

Polestar Automotive Holding UK Stock Performance

PSNY stock opened at $1.09 on Friday. The stock has a fifty day moving average of $1.09 and a 200-day moving average of $1.14. Polestar Automotive Holding UK has a fifty-two week low of $0.61 and a fifty-two week high of $2.33. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -1.91 and a beta of 1.53.

Institutional Trading of Polestar Automotive Holding UK

Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Polestar Automotive Holding UK during the second quarter valued at $266,000. Tredje AP fonden purchased a new position in shares of Polestar Automotive Holding UK during the second quarter worth about $3,091,000. Hsbc Holdings PLC purchased a new position in shares of Polestar Automotive Holding UK during the second quarter worth about $189,000. XTX Topco Ltd increased its position in shares of Polestar Automotive Holding UK by 153.1% in the second quarter. XTX Topco Ltd now owns 150,657 shares of the company’s stock worth $119,000 after purchasing an additional 91,139 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Polestar Automotive Holding UK in the second quarter valued at approximately $26,000. 1.02% of the stock is currently 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.