Polestar Automotive Holding UK (NASDAQ:PSNY) Sees Unusually-High Trading Volume

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares saw strong trading volume on Thursday . 12,160,102 shares traded hands during mid-day trading, an increase of 197% from the previous session’s volume of 4,090,425 shares.The stock last traded at $0.82 and had previously closed at $0.92.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Piper Sandler reissued a “neutral” rating and set a $2.00 price objective (down from $3.00) on shares of Polestar Automotive Holding UK in a research report on Friday, March 15th. Sanford C. Bernstein started coverage on Polestar Automotive Holding UK in a report on Wednesday, January 24th. They set an “underperform” rating and a $1.15 target price on the stock. Citigroup decreased their target price on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price target on shares of Polestar Automotive Holding UK in a research report on Friday, April 12th. Two equities 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.48.

Polestar Automotive Holding UK Trading Down 9.3 %

The stock’s 50-day moving average price is $1.41 and its 200-day moving average price is $1.80.

Institutional Trading of Polestar Automotive Holding UK

A number of hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its stake in shares of Polestar Automotive Holding UK by 10.7% during the third quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock valued at $7,481,000 after purchasing an additional 273,479 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Polestar Automotive Holding UK by 67.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 288,172 shares of the company’s stock worth $608,000 after purchasing an additional 116,207 shares during the period. Rafferty Asset Management LLC boosted its stake in shares of Polestar Automotive Holding UK by 18.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 62,999 shares of the company’s stock worth $166,000 after purchasing an additional 9,942 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Polestar Automotive Holding UK by 24.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 574,550 shares of the company’s stock valued at $1,517,000 after buying an additional 112,900 shares during the period. Finally, Schechter Investment Advisors LLC bought a new stake in shares of Polestar Automotive Holding UK in the 4th quarter valued at about $35,000. 1.02% of the stock is owned by institutional investors.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.