Polestar Automotive Holding UK (NASDAQ:PSNY) Price Target Cut to $1.00 by Analysts at Barclays

Polestar Automotive Holding UK (NASDAQ:PSNY) had its target price reduced by Barclays from $2.00 to $1.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 12.33% from the company’s current price.

Several other research analysts also recently issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and set a $2.00 price objective (down previously from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price objective on shares of Polestar Automotive Holding UK in a report on Monday. Finally, Citigroup reduced their price objective on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating on the stock in a report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $3.31.

Polestar Automotive Holding UK Stock Down 1.6 %

NASDAQ PSNY traded down $0.01 during trading hours on Wednesday, reaching $0.89. 13,762,052 shares of the company’s stock were exchanged, compared to its average volume of 6,369,481. Polestar Automotive Holding UK has a one year low of $0.65 and a one year high of $4.96. The firm has a fifty day moving average of $0.97 and a 200-day moving average of $1.51.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several hedge funds have recently modified their holdings of PSNY. Tidal Investments LLC grew its holdings in Polestar Automotive Holding UK by 118.4% during the first quarter. Tidal Investments LLC now owns 241,946 shares of the company’s stock worth $373,000 after purchasing an additional 131,167 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Polestar Automotive Holding UK by 32.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,336 shares of the company’s stock worth $218,000 after purchasing an additional 34,827 shares during the period. Green Alpha Advisors LLC grew its holdings in Polestar Automotive Holding UK by 2.4% during the first quarter. Green Alpha Advisors LLC now owns 279,118 shares of the company’s stock worth $430,000 after purchasing an additional 6,528 shares during the period. Cantor Fitzgerald L. P. bought a new position in Polestar Automotive Holding UK during the fourth quarter worth about $226,000. Finally, Bard Financial Services Inc. grew its holdings in Polestar Automotive Holding UK by 57.1% during the fourth quarter. Bard Financial Services Inc. now owns 27,500 shares of the company’s stock worth $62,000 after purchasing an additional 10,000 shares during the period. Institutional investors 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.