Polestar Automotive Holding UK PLC (NASDAQ:PSNY – Get Free Report)’s stock price hit a new 52-week low on Friday. The stock traded as low as $6.87 and last traded at $6.93, with a volume of 195809 shares trading hands. The stock had previously closed at $6.97.
Wall Street Analysts Forecast Growth
PSNY has been the subject of several analyst reports. Wall Street Zen cut shares of Polestar Automotive Holding UK from a “sell” rating to a “strong sell” rating in a report on Saturday, September 5th. Weiss Ratings raised shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. Finally, Cantor Fitzgerald reiterated an “underweight” rating on shares of Polestar Automotive Holding UK in a research note on Friday, September 4th. One investment 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.com, the stock has a consensus rating of “Sell”.
Get Our Latest Stock Analysis on PSNY
Polestar Automotive Holding UK Stock Performance
Polestar Automotive Holding UK (NASDAQ:PSNY – Get Free Report) last announced its quarterly earnings results on Thursday, September 3rd. The company reported ($3.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.19) by ($0.96). The company had revenue of $680.05 million for the quarter, compared to analysts’ expectations of $878.10 million. Analysts expect that Polestar Automotive Holding UK PLC will post -0.4 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Cynthia Dubin bought 1,275 shares of Polestar Automotive Holding UK stock in a transaction dated Thursday, July 2nd. The stock was acquired at an average cost of $20.72 per share, with a total value of $26,418.00. Following the acquisition, the director owned 3,195 shares of the company’s stock, valued at approximately $66,200.40. This trade represents a 66.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Francesca Paola Leandr Gamboni bought 1,709 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average cost of $17.56 per share, with a total value of $30,010.04. Following the completion of the transaction, the director owned 4,792 shares in the company, valued at approximately $84,147.52. This trade represents a 55.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 15,129 shares of company stock worth $264,398. Corporate insiders own 0.02% of the company’s stock.
Institutional Investors Weigh In On Polestar Automotive Holding UK
Several large investors have recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at $160,160,000. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in Polestar Automotive Holding UK in the 4th quarter valued at $3,111,000. Swiss National Bank boosted its stake in Polestar Automotive Holding UK by 195.4% during the 1st quarter. Swiss National Bank now owns 88,893 shares of the company’s stock worth $1,637,000 after purchasing an additional 58,800 shares during the period. California State Teachers Retirement System grew its position in Polestar Automotive Holding UK by 184.5% during 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. Finally, Public Employees Retirement System of Ohio purchased a new position in Polestar Automotive Holding UK during the 2nd quarter worth $277,000. 1.02% of the stock is owned by institutional investors and hedge funds.
Polestar Automotive Holding UK Company Profile
Polestar Automotive Holding UK PLC is a Swedish-founded electric vehicle company that designs, develops and sells premium electric cars. The company focuses on combining Scandinavian design, performance and digital technology, with vehicles marketed under the Polestar brand.
Polestar’s product lineup includes the Polestar 2 electric fastback, the Polestar 3 electric performance SUV and the Polestar 4 electric SUV coupe. The company is also developing additional models, including the Polestar 5 grand touring car and Polestar 6 electric roadster.
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