Polestar Automotive Holding UK PLC (NASDAQ:PSNY – Get Free Report) shares traded down 7.3% during trading on Friday . The stock traded as low as $14.05 and last traded at $13.9290. 14,731 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 177,058 shares. The stock had previously closed at $15.03.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on PSNY. Wall Street Zen cut Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings upgraded Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Polestar Automotive Holding UK has an average rating of “Sell”.
Get Our Latest Analysis on Polestar Automotive Holding UK
Polestar Automotive Holding UK Stock Down 9.8%
Insider Activity at Polestar Automotive Holding UK
In related news, Director Quan (Joe) Zhang acquired 1,700 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of $17.70 per share, for a total transaction of $30,090.00. Following the acquisition, the director directly owned 3,300 shares of the company’s stock, valued at approximately $58,410. The trade was a 106.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Francesca Paola Leandr Gamboni bought 1,709 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average price of $17.56 per share, for a total transaction of $30,010.04. Following the acquisition, the director directly owned 4,792 shares of the company’s stock, valued at $84,147.52. This represents a 55.43% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 21,829 shares of company stock worth $396,522 and sold 4,211 shares worth $74,450. Corporate insiders own 0.02% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of PSNY. EverSource Wealth Advisors LLC increased 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 worth $47,000 after purchasing an additional 2,545 shares during the last quarter. California State Teachers Retirement System lifted its stake in 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 valued at $857,000 after purchasing an additional 30,185 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Polestar Automotive Holding UK by 171.8% during the first 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 during the period. Swiss National Bank increased its position 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 worth $1,637,000 after buying an additional 58,800 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position 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 worth $138,000 after buying an additional 3,194 shares during the last quarter. Institutional investors own 1.02% of the company’s stock.
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.
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