Xiaojie Shen Purchases 2,436 Shares of Polestar Automotive Holding UK (NASDAQ:PSNY) Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Xiaojie Shen acquired 2,436 shares of Polestar Automotive Holding UK stock in a transaction that occurred on Monday, June 29th. The stock was acquired at an average price of $17.31 per share, with a total value of $42,167.16. Following the completion of the purchase, the director directly owned 7,369 shares in the company, valued at $127,557.39. This represents a 49.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Polestar Automotive Holding UK Price Performance

Polestar Automotive Holding UK stock opened at $20.44 on Friday. The firm has a market capitalization of $1.91 billion, a P/E ratio of -1.05 and a beta of 1.32. 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 fifty day moving average price of $20.12 and a 200-day moving average price of $52.17.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Friday, April 17th. The company reported ($12.47) earnings per share (EPS) for the quarter. The company had revenue of $817.75 million during the quarter. Sell-side analysts expect that Polestar Automotive Holding UK PLC will post -8.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PSNY shares. Weiss Ratings raised shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 14th. Wall Street Zen raised shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Polestar Automotive Holding UK has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in Polestar Automotive Holding UK by 28,277.8% during the first 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 in the last quarter. California State Teachers Retirement System boosted its stake in Polestar Automotive Holding UK by 184.5% in the first quarter. California State Teachers Retirement System now owns 46,546 shares of the company’s stock worth $857,000 after buying an additional 30,185 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake 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 worth $184,000 after buying an additional 6,300 shares in the last quarter. Swiss National Bank raised its stake in shares of Polestar Automotive Holding UK by 195.4% during the first quarter. Swiss National Bank now owns 88,893 shares of the company’s stock worth $1,637,000 after acquiring an additional 58,800 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of Polestar Automotive Holding UK by 74.8% during the first quarter. Pictet Asset Management Holding SA now owns 7,465 shares of the company’s stock worth $138,000 after acquiring an additional 3,194 shares in the last quarter. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

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.