Polestar Automotive Holding UK (NASDAQ:PSNY) Cut to “Underweight” at Cantor Fitzgerald

Polestar Automotive Holding UK (NASDAQ:PSNY) was downgraded by equities research analysts at Cantor Fitzgerald from a “neutral” rating to an “underweight” rating in a report released on Thursday, Marketbeat.com reports.

Other equities analysts have also recently issued reports about the stock. Zacks Research raised shares of Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Polestar Automotive Holding UK has an average rating of “Sell”.

Polestar Automotive Holding UK Stock Down 2.7%

NASDAQ PSNY opened at $16.36 on Thursday. Polestar Automotive Holding UK has a 52 week low of $11.75 and a 52 week high of $42.60. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -0.84 and a beta of 1.33. The company has a fifty day moving average of $127.58 and a two-hundred day moving average of $564.19.

Institutional Trading of Polestar Automotive Holding UK

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rathbones Group PLC boosted its holdings in shares of Polestar Automotive Holding UK by 79.1% in the third quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock valued at $43,000 after purchasing an additional 20,000 shares during the period. Russell Investments Group Ltd. raised its position in Polestar Automotive Holding UK by 45.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock valued at $51,000 after purchasing an additional 14,877 shares in the last quarter. Focus Partners Wealth bought a new stake in Polestar Automotive Holding UK during the 1st quarter valued at $62,000. Captrust Financial Advisors lifted its holdings in shares of Polestar Automotive Holding UK by 43.2% in the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after buying an additional 17,700 shares during the period. Finally, Cresset Asset Management LLC grew its position in shares of Polestar Automotive Holding UK by 26.7% during the 2nd quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock worth $89,000 after buying an additional 17,590 shares in the last quarter. 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.