Key Points
- Polestar Automotive Holding UK director Cynthia Dubin bought 1,275 shares on July 2 at an average price of $20.72, spending $26,418 and lifting her stake by 66.41% to 3,195 shares.
- The purchase was disclosed in an SEC filing, signaling a notable insider vote of confidence in the electric vehicle maker.
- Polestar’s stock was trading near $20, while analysts remain cautious overall with a consensus rating of “Sell”; the company also reported a large quarterly loss of $12.47 per share on revenue of $817.75 million.
Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) Director Cynthia Dubin bought 1,275 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was acquired at an average price of $20.72 per share, for a total transaction of $26,418.00. Following the completion of the transaction, the director owned 3,195 shares in the company, valued at $66,200.40. This trade represents a 66.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Polestar Automotive Holding UK Price Performance
Shares of Polestar Automotive Holding UK stock opened at $20.03 on Tuesday. The business's fifty day moving average price is $20.22 and its two-hundred day moving average price is $46.92. The company has a market capitalization of $1.87 billion, a P/E ratio of -1.03 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.
Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report) last released its quarterly earnings results on Friday, April 17th. The company reported ($12.47) earnings per share (EPS) for the quarter. The firm had revenue of $817.75 million during the quarter. On average, research analysts expect that Polestar Automotive Holding UK PLC will post -8.08 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have commented on PSNY. 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 note on Thursday, May 14th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Sell".
Get Our Latest Stock Analysis on Polestar Automotive Holding UK
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in 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 acquiring an additional 2,545 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Polestar Automotive Holding UK by 184.5% in the 1st quarter. California State Teachers Retirement System now owns 46,546 shares of the company's stock worth $857,000 after purchasing an additional 30,185 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Polestar Automotive Holding UK by 171.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 9,966 shares of the company's stock worth $184,000 after purchasing an additional 6,300 shares in the last quarter. Swiss National Bank lifted its stake in Polestar Automotive Holding UK by 195.4% during the first quarter. Swiss National Bank now owns 88,893 shares of the company's stock valued at $1,637,000 after purchasing an additional 58,800 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in 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 valued at $138,000 after purchasing an additional 3,194 shares during the last quarter. 1.02% of the stock is owned by institutional investors and hedge funds.
About Polestar Automotive Holding UK
(
Get Free Report)
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.
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