Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Buys $34,012.37 in Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Karl-Thomas Neumann purchased 2,009 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were purchased 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 directly owned 7,998 shares of the company’s stock, valued at approximately $135,406.14. This represents a 33.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Polestar Automotive Holding UK Stock Performance

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

Polestar Automotive Holding UK (NASDAQ:PSNY) last issued 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 for the quarter. As a group, equities analysts forecast that Polestar Automotive Holding UK PLC will post -8.08 EPS for the current year.

Institutional Trading of Polestar Automotive Holding UK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSNY. Rathbones Group PLC raised its holdings in Polestar Automotive Holding UK by 79.1% during 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 last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Polestar Automotive Holding UK by 28,277.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,554 shares of the company’s stock worth $47,000 after purchasing an additional 2,545 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Polestar Automotive Holding UK by 45.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock valued at $51,000 after purchasing an additional 14,877 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Polestar Automotive Holding UK in the 1st quarter valued at $62,000. Finally, Captrust Financial Advisors increased its position in shares of Polestar Automotive Holding UK by 43.2% during the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after buying an additional 17,700 shares during the period. Institutional investors and hedge funds own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSNY. Wall Street Zen upgraded shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings raised Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Sell”.

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.