Polestar Automotive Holding UK PLC (NASDAQ:PSNY – Get Free Report) shares hit a new 52-week low during trading on Thursday. The company traded as low as $6.25 and last traded at $6.1710, with a volume of 26720 shares changing hands. The stock had previously closed at $6.54.
Analyst Ratings Changes
Several research firms have recently weighed in on PSNY. Cantor Fitzgerald reissued an “underweight” rating on shares of Polestar Automotive Holding UK in a research report on Friday, September 4th. Weiss Ratings upgraded Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. Finally, Wall Street Zen cut Polestar Automotive Holding UK from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Sell”.
Read Our Latest Stock Analysis on PSNY
Polestar Automotive Holding UK Stock Performance
Polestar Automotive Holding UK (NASDAQ:PSNY – Get Free Report) last issued its earnings results on Thursday, September 3rd. The company reported ($3.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.19) by ($0.96). The company had revenue of $680.05 million for the quarter, compared to analyst estimates of $878.10 million. As a group, analysts forecast that Polestar Automotive Holding UK PLC will post -0.4 EPS for the current fiscal year.
Hedge Funds Weigh In On Polestar Automotive Holding UK
A number of institutional investors and hedge funds have recently made changes to their positions in PSNY. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Polestar Automotive Holding UK in the 4th quarter valued at about $160,160,000. Swiss National Bank raised its stake in Polestar Automotive Holding UK by 195.4% during the 1st quarter. Swiss National Bank now owns 88,893 shares of the company’s stock worth $1,637,000 after buying an additional 58,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in Polestar Automotive Holding UK during the 4th quarter worth approximately $3,111,000. Nykredit A S bought a new position in Polestar Automotive Holding UK in the second quarter worth approximately $65,000. Finally, Public Employees Retirement System of Ohio bought a new position in Polestar Automotive Holding UK in the second quarter worth approximately $277,000. Institutional investors own 1.02% of the company’s stock.
About Polestar Automotive Holding UK
Polestar Automotive Holding UK PLC is a Swedish-founded electric vehicle company that designs, develops and sells premium electric cars. The company focuses on combining Scandinavian design, performance and digital technology, with vehicles marketed under the Polestar brand.
Polestar’s product lineup includes the Polestar 2 electric fastback, the Polestar 3 electric performance SUV and the Polestar 4 electric SUV coupe. The company is also developing additional models, including the Polestar 5 grand touring car and Polestar 6 electric roadster.
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