Polestar Automotive Holding UK (NASDAQ:PSNYW) Stock Falls 9.1% – Here’s What Happened

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) was down 9.1% during mid-day trading on Monday. The company traded as low as $3.49 and last traded at $3.50. Approximately 7,579 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 105,914 shares. The stock had previously closed at $3.85.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Polestar Automotive Holding UK Stock Down 0.6%

The stock has a 50 day moving average of $4.13 and a two-hundred day moving average of $3.36.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Polestar Automotive Holding UK stock. GAMMA Investing LLC bought a new position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,418 shares of the company’s stock, valued at approximately $32,000.

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK PLC is an electric vehicle company that develops, manufactures, and sells premium battery-powered cars. The company operates under the Polestar brand and focuses on combining Scandinavian design, advanced technology, and sustainability in its vehicles and related services.

Polestar’s product lineup has included the Polestar 2 fastback, the Polestar 3 electric SUV, and the Polestar 4 electric performance SUV coupe. The company is also developing additional models, including the Polestar 5 four-door electric grand tourer and Polestar 6 electric roadster.