Polestar Automotive Holding UK (NASDAQ:PSNY) Director Acquires 1,709 Shares

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Francesca Paola Leandr Gamboni bought 1,709 shares of the stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $17.56 per share, for a total transaction of $30,010.04. Following the acquisition, the director owned 4,792 shares of the company’s stock, valued at approximately $84,147.52. This represents a 55.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Polestar Automotive Holding UK Trading Up 0.5%

Shares of Polestar Automotive Holding UK stock traded up $0.11 on Thursday, reaching $20.44. 136,009 shares of the stock were exchanged, compared to its average volume of 181,236. The firm has a market capitalization of $1.91 billion, a PE ratio of -1.05 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. The business has a fifty day moving average price of $20.07 and a two-hundred day moving average price of $55.05.

Polestar Automotive Holding UK (NASDAQ:PSNY) last announced its quarterly earnings data on Friday, April 17th. The company reported ($12.47) earnings per share for the quarter. The business had revenue of $817.75 million during the quarter. Research analysts expect that Polestar Automotive Holding UK PLC will post -8.08 EPS for the current year.

Wall Street Analysts Forecast Growth

PSNY has been the topic of a number of recent analyst reports. Weiss Ratings raised Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 14th. Wall Street Zen raised Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Institutional investors have recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Polestar Automotive Holding UK in the 4th quarter valued at approximately $160,160,000. UBS Group AG boosted its position in Polestar Automotive Holding UK by 22.6% during the third quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock worth $2,265,000 after purchasing an additional 443,359 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in 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 position 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 buying an additional 72,023 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Polestar Automotive Holding UK in the second quarter valued at $326,000. Hedge funds and other 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.