Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Down – What’s Next?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) gapped down before the market opened on Tuesday . The stock had previously closed at $1.15, but opened at $1.12. Polestar Automotive Holding UK shares last traded at $1.17, with a volume of 456,753 shares changing hands.

Polestar Automotive Holding UK Stock Down 4.2%

The company has a market capitalization of $2.43 billion, a P/E ratio of -2.00 and a beta of 1.43. The firm’s 50-day moving average price is $1.05 and its 200 day moving average price is $1.08.

Institutional Trading of Polestar Automotive Holding UK

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Polestar Automotive Holding UK during the fourth quarter valued at approximately $33,000. Bank of New York Mellon Corp purchased a new position in Polestar Automotive Holding UK during the 4th quarter worth $37,000. Alliancebernstein L.P. purchased a new position in Polestar Automotive Holding UK during the 4th quarter worth $42,000. SCS Capital Management LLC bought a new stake in shares of Polestar Automotive Holding UK in the 1st quarter worth $43,000. Finally, Focus Partners Wealth purchased a new stake in shares of Polestar Automotive Holding UK in the first quarter valued at about $62,000. 1.02% of the stock is owned by hedge funds and other institutional investors.

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.