Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Acquires 2,009 Shares of Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Karl-Thomas Neumann acquired 2,009 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was acquired at an average cost of $16.93 per share, with a total value of $34,012.37. Following the purchase, the director owned 7,998 shares of the company’s stock, valued at approximately $135,406.14. This trade represents a 33.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Polestar Automotive Holding UK Trading Up 8.3%

PSNY traded up $1.55 on Wednesday, hitting $20.33. 138,861 shares of the company’s stock traded hands, compared to its average volume of 181,576. The company’s 50 day simple moving average is $20.04 and its 200-day simple moving average is $57.44. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -1.04 and a beta of 1.29. Polestar Automotive Holding UK PLC has a one year low of $11.75 and a one year high of $42.60.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of 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 buying an additional 2,545 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in Polestar Automotive Holding UK by 74.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 7,465 shares of the company’s stock valued at $138,000 after buying an additional 3,194 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Polestar Automotive Holding UK by 171.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 9,966 shares of the company’s stock valued at $184,000 after buying an additional 6,300 shares in the last quarter. SmartHarvest Portfolios LLC bought a new stake in Polestar Automotive Holding UK in the 1st quarter worth approximately $186,000. Finally, Alpine Global Management LLC bought a new position in shares of Polestar Automotive Holding UK during the 4th quarter valued at approximately $219,000. 1.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSNY. Weiss Ratings upgraded shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Polestar Automotive Holding UK 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.