Polestar Automotive Holding UK (NASDAQ:PSNY) Releases Earnings Results

Polestar Automotive Holding UK (NASDAQ:PSNY) posted its quarterly earnings data on Thursday. The company reported ($3.15) earnings per share for the quarter, FiscalAI reports. The company had revenue of $680.05 million for the quarter.

Polestar Automotive Holding UK Stock Performance

NASDAQ:PSNY opened at $11.99 on Thursday. The firm has a market cap of $1.12 billion, a P/E ratio of -0.62 and a beta of 1.32. Polestar Automotive Holding UK has a fifty-two week low of $11.75 and a fifty-two week high of $39.30. The firm has a 50-day simple moving average of $15.22 and a two-hundred day simple moving average of $17.86.

Insider Activity at Polestar Automotive Holding UK

In other Polestar Automotive Holding UK news, Director Xiaojie Shen purchased 2,436 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was purchased at an average price of $17.31 per share, for a total transaction of $42,167.16. Following the completion of the purchase, the director directly owned 7,369 shares of the company’s stock, valued at $127,557.39. This trade represents a 49.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Karl-Thomas Neumann acquired 2,009 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were acquired at an average cost of $16.93 per share, for a total transaction of $34,012.37. Following the completion of the transaction, the director directly owned 7,998 shares of the company’s stock, valued at $135,406.14. The trade was a 33.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 15,129 shares of company stock valued at $264,398 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Institutional Trading of Polestar Automotive Holding UK

A number of institutional investors have recently made changes to their positions in PSNY. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Polestar Automotive Holding UK during the fourth quarter valued at approximately $160,160,000. Swiss National Bank boosted its stake in shares of Polestar Automotive Holding UK by 195.4% in the 1st quarter. Swiss National Bank now owns 88,893 shares of the company’s stock worth $1,637,000 after buying an additional 58,800 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in shares of Polestar Automotive Holding UK in the fourth quarter worth $3,111,000. Public Employees Retirement System of Ohio lifted its holdings in Polestar Automotive Holding UK by 171.8% in the first quarter. Public Employees Retirement System of Ohio now owns 9,966 shares of the company’s stock valued at $184,000 after acquiring an additional 6,300 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Polestar Automotive Holding UK by 28,277.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,554 shares of the company’s stock valued at $47,000 after purchasing an additional 2,545 shares during the period. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PSNY shares. Wall Street Zen lowered shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings lowered Polestar Automotive Holding UK from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Polestar Automotive Holding UK presently has an average rating of “Sell”.

About Polestar Automotive Holding UK

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.