Polestar Automotive Holding UK (NASDAQ:PSNY) Sets New 1-Year Low – What’s Next?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $0.6596 and last traded at $0.6380, with a volume of 10113710 shares changing hands. The stock had previously closed at $0.7962.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSNY. Wall Street Zen lowered shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Thursday. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Thursday, September 4th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $1.25.

Polestar Automotive Holding UK Stock Performance

The stock has a market capitalization of $1.12 billion, a PE ratio of -0.81 and a beta of 1.35. The company’s fifty day simple moving average is $0.89 and its two-hundred day simple moving average is $1.02.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $790.79 million during the quarter, compared to analyst estimates of $850.00 million. Sell-side analysts forecast that Polestar Automotive Holding UK PLC will post -0.59 EPS for the current fiscal year.

Institutional Trading of Polestar Automotive Holding UK

A number of large investors have recently made changes to their positions in the stock. UBS Group AG raised its stake in Polestar Automotive Holding UK by 22.6% in the 3rd quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock valued at $2,265,000 after purchasing an additional 443,359 shares during the last quarter. Deutsche Bank AG raised its position in shares of Polestar Automotive Holding UK by 22.5% in the first quarter. Deutsche Bank AG now owns 794,873 shares of the company’s stock valued at $835,000 after buying an additional 146,107 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Polestar Automotive Holding UK by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock valued at $555,000 after acquiring an additional 57,717 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Polestar Automotive Holding UK by 18.6% during the 2nd quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock worth $491,000 after purchasing an additional 72,023 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Polestar Automotive Holding UK by 61.2% during the first quarter. Advisors Asset Management Inc. now owns 449,227 shares of the company’s stock worth $472,000 after purchasing an additional 170,563 shares during the last quarter. Institutional investors and hedge funds own 1.02% of the company’s stock.

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.