Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Acquires $132,124.00 in Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Winfried Vahland purchased 6,700 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average cost of $19.72 per share, with a total value of $132,124.00. Following the acquisition, the director owned 31,979 shares in the company, valued at $630,625.88. This represents a 26.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Polestar Automotive Holding UK Stock Down 2.6%

PSNY opened at $18.90 on Friday. The firm’s fifty day simple moving average is $19.98 and its two-hundred day simple moving average is $119.51. Polestar Automotive Holding UK PLC has a 52-week low of $11.75 and a 52-week high of $42.60. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -0.97 and a beta of 1.29.

Wall Street Analysts Forecast Growth

PSNY has been the subject of a number of research analyst reports. Wall Street Zen raised Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Cantor Fitzgerald downgraded Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research note on Thursday, February 19th. Finally, 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 analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Polestar Automotive Holding UK currently has an average rating of “Sell”.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds have recently bought and sold shares of the business. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Polestar Automotive Holding UK in the 4th quarter worth approximately $160,160,000. UBS Group AG grew its position in shares of Polestar Automotive Holding UK by 22.6% in the third quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock valued at $2,265,000 after purchasing an additional 443,359 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Polestar Automotive Holding UK by 12.2% in the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock valued at $555,000 after purchasing an additional 57,717 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Polestar Automotive Holding UK by 18.6% in the second quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock valued at $491,000 after purchasing an additional 72,023 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Polestar Automotive Holding UK during the second quarter worth approximately $326,000. Institutional investors and hedge funds own 1.02% of the company’s stock.

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.