Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Acquires 1,700 Shares

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Quan (Joe) Zhang bought 1,700 shares of Polestar Automotive Holding UK stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of $17.70 per share, for a total transaction of $30,090.00. Following the transaction, the director directly owned 3,300 shares of the company’s stock, valued at approximately $58,410. This trade represents a 106.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Polestar Automotive Holding UK Trading Up 0.5%

NASDAQ PSNY traded up $0.11 during trading hours on Thursday, reaching $20.44. The company had a trading volume of 136,009 shares, compared to its average volume of 181,236. The stock has a 50-day moving average of $20.07 and a 200 day moving average of $55.05. Polestar Automotive Holding UK PLC has a 1-year low of $11.75 and a 1-year high of $42.60. The stock has a market capitalization of $1.91 billion, a P/E ratio of -1.05 and a beta of 1.32.

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

Institutional Trading of Polestar Automotive Holding UK

Several hedge funds have recently modified their holdings of the stock. Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in Polestar Automotive Holding UK during the 4th quarter worth about $160,160,000. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in Polestar Automotive Holding UK in the 4th quarter valued at about $3,111,000. JPMorgan Chase & Co. boosted its stake in shares of Polestar Automotive Holding UK by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 167,188 shares of the company’s stock valued at $157,000 after buying an additional 10,780 shares during the period. Rathbones Group PLC boosted its stake in shares of Polestar Automotive Holding UK by 79.1% in the 3rd quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock valued at $43,000 after buying an additional 20,000 shares during the period. Finally, Focus Partners Wealth acquired a new position in shares of Polestar Automotive Holding UK during the first quarter worth about $62,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PSNY shares. Weiss Ratings raised 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 raised Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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.