Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Down 14.1% – Here’s What Happened

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s share price fell 14.1% during trading on Monday . The stock traded as low as $19.56 and last traded at $19.8210. 46,825 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 188,283 shares. The stock had previously closed at $23.08.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PSNY. Weiss Ratings upgraded shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Cantor Fitzgerald lowered shares of Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Polestar Automotive Holding UK Trading Down 15.4%

The stock’s 50-day moving average is $19.79 and its 200-day moving average is $136.29. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -1.00 and a beta of 1.29.

Institutional Trading of Polestar Automotive Holding UK

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Polestar Automotive Holding UK by 28,277.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,554 shares of the company’s stock valued at $47,000 after acquiring an additional 2,545 shares in the last quarter. California State Teachers Retirement System grew its position in Polestar Automotive Holding UK by 184.5% in the first quarter. California State Teachers Retirement System now owns 46,546 shares of the company’s stock valued at $857,000 after acquiring an additional 30,185 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Polestar Automotive Holding UK by 171.8% in the first quarter. Public Employees Retirement System of Ohio now owns 9,966 shares of the company’s stock valued at $184,000 after acquiring an additional 6,300 shares in the last quarter. Swiss National Bank grew its position in Polestar Automotive Holding UK by 195.4% in the first quarter. Swiss National Bank now owns 88,893 shares of the company’s stock valued at $1,637,000 after acquiring an additional 58,800 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in Polestar Automotive Holding UK by 74.8% in the first quarter. Pictet Asset Management Holding SA now owns 7,465 shares of the company’s stock valued at $138,000 after acquiring an additional 3,194 shares in the last quarter. Institutional investors and hedge funds 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.