Polestar Automotive Holding UK (NASDAQ:PSNY) Shares to Reverse Split on Tuesday, December 30th

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) are set to reverse split on the morning of Tuesday, December 30th. The 1-30 reverse split was announced on Monday, November 17th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 29th.

Polestar Automotive Holding UK Price Performance

NASDAQ PSNY opened at $14.33 on Friday. The company has a market cap of $1.02 billion, a P/E ratio of -22.05 and a beta of 1.37. The stock has a 50-day moving average of $21.61 and a two-hundred day moving average of $28.37. Polestar Automotive Holding UK has a 1-year low of $11.75 and a 1-year high of $42.60.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating on shares of Polestar Automotive Holding UK in a research note on Thursday, September 4th. Zacks Research cut shares of Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a research report on Friday, November 14th. Wall Street Zen lowered Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Monday, December 8th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Trading of Polestar Automotive Holding UK

A number of hedge funds have recently modified their holdings of the business. SCS Capital Management LLC purchased a new stake in shares of Polestar Automotive Holding UK in the 1st quarter worth about $43,000. Rathbones Group PLC grew its holdings in Polestar Automotive Holding UK by 79.1% in the third quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock worth $43,000 after purchasing an additional 20,000 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Polestar Automotive Holding UK by 45.0% during the second 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 purchased a new position in shares of Polestar Automotive Holding UK during the first quarter valued at approximately $62,000. Finally, Captrust Financial Advisors grew its stake 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 last quarter. Institutional investors 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.