Polestar Automotive Holding UK (NASDAQ:PSNY) Downgraded by Wall Street Zen to “Sell”

Polestar Automotive Holding UK (NASDAQ:PSNY) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other equities research analysts have also recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Polestar Automotive Holding UK in a research note on Saturday, September 27th. Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Thursday, September 4th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $1.25.

Polestar Automotive Holding UK Stock Performance

NASDAQ PSNY opened at $0.96 on Friday. The firm has a 50-day simple moving average of $1.05 and a 200 day simple moving average of $1.06. Polestar Automotive Holding UK has a twelve month low of $0.84 and a twelve month high of $1.74. The stock has a market cap of $2.06 billion, a PE ratio of -1.69 and a beta of 1.36.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently modified their holdings of the stock. SCS Capital Management LLC acquired a new stake in shares of Polestar Automotive Holding UK in the first quarter valued at approximately $43,000. Russell Investments Group Ltd. increased its holdings in shares of Polestar Automotive Holding UK by 45.0% in the second 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 in the last quarter. Captrust Financial Advisors increased its holdings in shares of 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 purchasing an additional 17,700 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Polestar Automotive Holding UK in the first quarter valued at approximately $62,000. Finally, Cobblestone Asset Management LLC acquired a new stake in shares of Polestar Automotive Holding UK in the first quarter valued at approximately $73,000. 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.