Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Buys 6,000 Shares of Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Winfried Vahland bought 6,000 shares of the stock in a transaction dated Monday, June 29th. The shares were acquired at an average price of $16.95 per share, for a total transaction of $101,700.00. Following the completion of the purchase, the director directly owned 37,979 shares in the company, valued at approximately $643,744.05. This trade represents a 18.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Winfried Vahland also recently made the following trade(s):

• On Monday, June 1st, Winfried Vahland purchased 6,700 shares of Polestar Automotive Holding UK stock. The shares were bought at an average price of $19.72 per share, with a total value of $132,124.00.

Polestar Automotive Holding UK Stock Up 8.3%

NASDAQ PSNY traded up $1.55 during trading hours on Wednesday, reaching $20.33. 138,861 shares of the company were exchanged, compared to its average volume of 181,576. Polestar Automotive Holding UK PLC has a 1 year low of $11.75 and a 1 year high of $42.60. The business’s 50 day simple moving average is $20.04 and its 200-day simple moving average is $57.44. The stock has a market capitalization of $1.90 billion, a P/E ratio of -1.04 and a beta of 1.29.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Polestar Automotive Holding UK during the fourth quarter worth about $160,160,000. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Polestar Automotive Holding UK in the fourth quarter worth about $3,111,000. JPMorgan Chase & Co. raised its position in shares of Polestar Automotive Holding UK by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 167,188 shares of the company’s stock valued at $157,000 after purchasing an additional 10,780 shares during the period. Rathbones Group PLC raised its position in shares of Polestar Automotive Holding UK by 79.1% in the third quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock valued at $43,000 after purchasing an additional 20,000 shares during the period. Finally, Cresset Asset Management LLC lifted its stake in shares of Polestar Automotive Holding UK by 26.7% during the 2nd quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock valued at $89,000 after buying an additional 17,590 shares in the last quarter. 1.02% of the stock is currently owned by institutional investors.

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.