Polestar Automotive Holding UK PLC Share Price Drops 5.1% After Citigroup Lowers Price Target

Are you interested in investing in the automotive industry? If so, you may want to take a closer look at Polestar Automotive Holding UK PLC (NASDAQ:PSNY). This company has been making waves in the electric vehicle market, manufacturing and selling premium electric vehicles since its founding in 2017. However, recent news has caused some fluctuations in the company’s stock price.

On Thursday, Polestar Automotive Holding UK’s share price dropped 5.1% after Citigroup lowered their price target on the stock from $2.50 to $1.70. This news has caused some concern among investors, but it’s important to note that Citigroup currently has a neutral rating on the stock. Despite this recent drop, the stock has a 50-day simple moving average of $1.46 and a 200-day simple moving average of $1.83.

Institutional investors have also been active in trading Polestar Automotive Holding UK stock. Hedge funds such as Tidal Investments LLC, Healthcare of Ontario Pension Plan Trust Fund, and Green Alpha Advisors LLC have all increased their stakes in the company. This shows that there is still confidence in the long-term potential of Polestar Automotive Holding UK.

If you’re considering investing in Polestar Automotive Holding UK, it’s important to do your research. While some research firms have given the stock a neutral rating, others have rated it as overweight or underperform. It’s always a good idea to consult with a financial advisor before making any investment decisions.

Overall, Polestar Automotive Holding UK is an intriguing company in the electric vehicle market. With its focus on premium electric vehicles, it has the potential to make a significant impact in the industry. Keep an eye on this stock as it continues to evolve and grow in the coming months.