Barclays Downgrades Polestar Automotive

Fintel reports that on September 7, 2023, Barclays downgraded their outlook for Polestar Automotive Holding UK PLC – ADR (NASDAQ:PSNY) from Equal-Weight to Underweight.

Analyst Price Forecast Suggests 75.04% Upside

As of August 31, 2023, the average one-year price target for Polestar Automotive Holding UK PLC – ADR is 5.48. The forecasts range from a low of 1.62 to a high of $9.45. The average price target represents an increase of 75.04% from its latest reported closing price of 3.13.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Polestar Automotive Holding UK PLC – ADR is 5,603MM, an increase of 111.29%. The projected annual non-GAAP EPS is -0.48.

What is the Fund Sentiment?

There are 105 funds or institutions reporting positions in Polestar Automotive Holding UK PLC – ADR. This is an increase of 7 owner(s) or 7.14% in the last quarter. Average portfolio weight of all funds dedicated to PSNY is 0.07%, a decrease of 39.71%. Total shares owned by institutions increased in the last three months by 17.08% to 20,978K shares. The put/call ratio of PSNY is 0.24, indicating a bullish outlook.

What are Other Shareholders Doing?

AMF Pensionsforsakring AB holds 4,400K shares. No change in the last quarter.

PBW – Invesco WilderHill Clean Energy ETF holds 2,652K shares. In it’s prior filing, the firm reported owning 2,250K shares, representing an increase of 15.19%. The firm increased its portfolio allocation in PSNY by 9.94% over the last quarter.

Invesco holds 2,560K shares. In it’s prior filing, the firm reported owning 2,741K shares, representing a decrease of 7.08%. The firm increased its portfolio allocation in PSNY by 855.61% over the last quarter.

BNP Paribas Asset Management Holding holds 1,925K shares. In it’s prior filing, the firm reported owning 38K shares, representing an increase of 98.03%. The firm increased its portfolio allocation in PSNY by 7,788.44% over the last quarter.

Saba Capital Management holds 1,441K shares. In it’s prior filing, the firm reported owning 2,317K shares, representing a decrease of 60.74%. The firm decreased its portfolio allocation in PSNY by 14.47% over the last quarter.

This article originally appeared on Fintel