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 Polestar Automotive Holding UK stock in a transaction that occurred on Monday, June 29th. The shares were purchased at an average price of $16.93 per share, with a total value of $34,012.37. Following the transaction, the director owned 7,998 shares of the company’s stock, valued at $135,406.14. The trade was a 33.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Polestar Automotive Holding UK Trading Up 8.3%

PSNY stock traded up $1.55 during trading on Wednesday, reaching $20.33. The stock had a trading volume of 138,861 shares, compared to its average volume of 181,576. Polestar Automotive Holding UK PLC has a 52 week low of $11.75 and a 52 week high of $42.60. The firm has a market cap of $1.90 billion, a PE ratio of -1.04 and a beta of 1.29. The stock’s 50 day moving average is $20.04 and its two-hundred day moving average is $57.44.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake 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 purchasing an additional 2,545 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of 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 valued at $857,000 after buying an additional 30,185 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of 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. Swiss National Bank boosted its holdings in Polestar Automotive Holding UK by 195.4% in the 1st quarter. Swiss National Bank now owns 88,893 shares of the company’s stock worth $1,637,000 after buying an additional 58,800 shares during the period. Finally, Pictet Asset Management Holding SA boosted its holdings in Polestar Automotive Holding UK by 74.8% in the 1st quarter. Pictet Asset Management Holding SA now owns 7,465 shares of the company’s stock worth $138,000 after buying an additional 3,194 shares during the period. 1.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen raised Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings upgraded Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Sell”.

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.