BNP Paribas Asset Management UK L recently announced the acquisition of new stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY). The institutional investor has increased its shareholding in the Consumer Cyclical company by 38.82% to 6.04 million shares with purchase of 1.69 million shares. This fresh investment now brings its stake to 1.29% valued currently at $32.12 million. In addition, Invesco Capital Management LLC raised its holdings by 0.44 million to 2.64 million shares.
With over 4.85 million Polestar Automotive Holding UK PLC (PSNY) shares trading Tuesday and a closing price of $3.98 on the day, the dollar volume was approximately $19.31 million. The shares have shown a negative half year performance of -47.42% and its price on 03/14/23 lost nearly -7.23%. Currently, there are 2.11B common shares owned by the public and among those 111.92M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for PSNY have a consensus price objective of $7.00. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $7.00. The average price target is 43.14% above its recent price level and an upside to the estimated low will see the stock gain 43.14% over that period. But an upside of 43.14% will see the stock hit the forecast high price target while median target price for the stock is $7.00.
The top 3 mutual fund holders in Polestar Automotive Holding UK PLC are BNP Paribas Funds – Energy Transi, Invesco WilderHill Clean Energy E, and iShares Tr. – Self-Driving EV & T. BNP Paribas Funds – Energy Transi owns 7.84 million shares of the company’s stock, all valued at over $41.7 million. Invesco WilderHill Clean Energy E sold 18720.0 shares to see its total holdings shrink to 2.19 million shares valued at over $11.65 million and representing 0.47% of the shares outstanding. iShares Tr. – Self-Driving EV & T now owns shares totaling to 0.11% of the shares outstanding.
Shares of Polestar Automotive Holding UK PLC (NASDAQ: PSNY) opened at $4.38, up $0.09 from a prior closing price of $4.29. However, the script later moved the day high at 4.3900, down -7.23%. The company’s stock has a 5-day price change of -16.21% and -33.78% over the past three months. PSNY shares are trading -25.05% year to date (YTD), with the 12-month market performance down to -63.45% lower. It has a 12-month low price of $4.00 and touched a high of $13.36 over the same period. PSNY has an average intraday trading volume of 2.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -22.33%, -27.38%, and -42.96% respectively.
Institutional ownership of Polestar Automotive Holding UK PLC (NASDAQ: PSNY) shares accounts for 6.10% of the company’s 2.11B shares outstanding. Mutual fund holders own 2.52%, while other institutional holders and individual stakeholders account for 2.65% and — respectively.
It has a market capitalization of $8.56B. The earnings-per-share (ttm) stands at -$0.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.24% over the week and 5.94% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Polestar Automotive Holding UK PLC (PSNY) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PSNY, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on February 15, 2023, with the firm’s price target at $7. Citigroup coverage for the Polestar Automotive Holding UK PLC (PSNY) stock in a research note released on November 16, 2022 offered a Buy rating with a price target of $12. Redburn was of a view on September 09, 2022 that the stock is Sell, while Deutsche Bank gave the stock Hold rating on August 01, 2022, issuing a price target of $10.
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