Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Up 5.1% – What’s Next?

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) rose 5.1% on Friday . The stock traded as high as $22.08 and last traded at $21.9340. Approximately 19,021 shares changed hands during trading, a decline of 90% from the average daily volume of 186,155 shares. The stock had previously closed at $20.87.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Friday, March 27th. Cantor Fitzgerald cut shares of Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research note on Thursday, February 19th. Finally, Wall Street Zen raised shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Polestar Automotive Holding UK Stock Up 4.7%

The company has a market cap of $2.04 billion, a PE ratio of -1.12 and a beta of 1.22. The business has a 50-day simple moving average of $18.60 and a 200-day simple moving average of $191.14.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA lifted its holdings in Polestar Automotive Holding UK by 74.8% during the first quarter. Pictet Asset Management Holding SA now owns 7,465 shares of the company’s stock valued at $138,000 after purchasing an additional 3,194 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Polestar Automotive Holding UK by 171.8% during the first quarter. Public Employees Retirement System of Ohio now owns 9,966 shares of the company’s stock worth $184,000 after purchasing an additional 6,300 shares in the last quarter. SmartHarvest Portfolios LLC acquired a new position in shares of Polestar Automotive Holding UK during the 1st quarter worth about $186,000. Alpine Global Management LLC acquired a new position in shares of Polestar Automotive Holding UK during the 4th quarter worth about $219,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Polestar Automotive Holding UK in the 4th quarter valued at about $522,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.