Polestar Automotive Holding UK (NASDAQ:PSNY) Director Karl-Thomas Neumann Acquires 2,009 Shares

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Karl-Thomas Neumann bought 2,009 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were bought at an average cost of $16.93 per share, for a total transaction of $34,012.37. Following the completion of the purchase, the director owned 7,998 shares of the company’s stock, valued at $135,406.14. This represents a 33.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Polestar Automotive Holding UK Price Performance

Shares of Polestar Automotive Holding UK stock opened at $20.33 on Thursday. Polestar Automotive Holding UK PLC has a one year low of $11.75 and a one year high of $42.60. The business has a 50-day simple moving average of $20.07 and a 200 day simple moving average of $55.05. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -1.04 and a beta of 1.32.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 14th. Wall Street Zen raised Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in shares of Polestar Automotive Holding UK by 12.2% in the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock worth $555,000 after purchasing an additional 57,717 shares during the last quarter. Focus Partners Wealth purchased a new stake in Polestar Automotive Holding UK during the first quarter valued at about $62,000. Russell Investments Group Ltd. lifted its stake in 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 worth $51,000 after purchasing an additional 14,877 shares during the last quarter. Cresset Asset Management LLC lifted its stake in Polestar Automotive Holding UK by 26.7% during the second quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock worth $89,000 after purchasing an additional 17,590 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at about $326,000. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.