Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Purchases $42,167.16 in Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Xiaojie Shen acquired 2,436 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was purchased at an average price of $17.31 per share, with a total value of $42,167.16. Following the completion of the acquisition, the director directly owned 7,369 shares in the company, valued at approximately $127,557.39. This represents a 49.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ PSNY opened at $20.44 on Friday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -1.05 and a beta of 1.32. Polestar Automotive Holding UK PLC has a 1-year low of $11.75 and a 1-year high of $42.60. The stock’s 50-day moving average is $20.16 and its 200 day moving average is $51.94.

Polestar Automotive Holding UK (NASDAQ:PSNY) last issued its earnings results on Friday, April 17th. The company reported ($12.47) earnings per share (EPS) for the quarter. The business had revenue of $817.75 million during the quarter. On average, analysts forecast that Polestar Automotive Holding UK PLC will post -8.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several institutional investors have recently bought and sold shares of PSNY. Rathbones Group PLC increased its stake in Polestar Automotive Holding UK by 79.1% in the 3rd 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. EverSource Wealth Advisors LLC increased its stake in shares of Polestar Automotive Holding UK by 28,277.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,554 shares of the company’s stock worth $47,000 after buying an additional 2,545 shares during the period. Russell Investments Group Ltd. raised its holdings in Polestar Automotive Holding UK by 45.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock valued at $51,000 after buying an additional 14,877 shares during the last quarter. Focus Partners Wealth bought a new stake in Polestar Automotive Holding UK during the 1st quarter valued at $62,000. Finally, Captrust Financial Advisors boosted its position in Polestar Automotive Holding UK by 43.2% during the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock valued at $63,000 after buying an additional 17,700 shares during the period. 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.