Polestar Automotive Holding UK (NASDAQ:PSNY) Hits New 12-Month Low at $1.22

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $1.22 and last traded at $1.22, with a volume of 1158766 shares traded. The stock had previously closed at $1.27.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of Polestar Automotive Holding UK in a research note on Friday, April 12th. Sanford C. Bernstein began coverage on Polestar Automotive Holding UK in a research report on Wednesday, January 24th. They set an “underperform” rating and a $1.15 target price on the stock. Finally, Piper Sandler restated a “neutral” rating and issued a $2.00 price objective (down from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Polestar Automotive Holding UK currently has a consensus rating of “Hold” and a consensus target price of $3.83.

Polestar Automotive Holding UK Stock Performance

The firm has a 50-day moving average price of $1.59 and a 200-day moving average price of $1.97.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its holdings in shares of Polestar Automotive Holding UK by 109.0% during the third quarter. Commonwealth Equity Services LLC now owns 24,346 shares of the company’s stock valued at $64,000 after buying an additional 12,697 shares in the last quarter. TD Asset Management Inc acquired a new stake in Polestar Automotive Holding UK during the third quarter valued at $45,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Polestar Automotive Holding UK by 7.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 171,965 shares of the company’s stock valued at $454,000 after purchasing an additional 11,899 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in Polestar Automotive Holding UK during the third quarter valued at $34,000. Finally, Pathstone Family Office LLC boosted its position in Polestar Automotive Holding UK by 87.8% during the third quarter. Pathstone Family Office LLC now owns 84,510 shares of the company’s stock valued at $223,000 after purchasing an additional 39,510 shares during the last quarter. 1.02% of the stock is currently owned by institutional investors and hedge funds.

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.