Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Scheduled to Reverse Split on Tuesday, December 9th

Shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNY) are going to reverse split on Tuesday, December 9th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 8th.

Polestar Automotive Holding UK Stock Performance

PSNY opened at $0.63 on Friday. Polestar Automotive Holding UK has a 52-week low of $0.50 and a 52-week high of $1.42. The firm has a market cap of $1.36 billion, a P/E ratio of -0.97 and a beta of 1.37. The business’s fifty day moving average is $0.77 and its 200-day moving average is $0.97.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $790.79 million during the quarter, compared to analyst estimates of $850.00 million. On average, research analysts predict that Polestar Automotive Holding UK will post -0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PSNY has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Thursday, September 4th. Wall Street Zen lowered shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Tuesday, November 25th. Finally, Zacks Research cut Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a research note on Friday, November 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.com, the company currently has a consensus rating of “Sell”.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds have recently added to or reduced their stakes in the stock. SCS Capital Management LLC bought a new stake in shares of Polestar Automotive Holding UK during the first quarter worth $43,000. Rathbones Group PLC boosted its holdings in shares of Polestar Automotive Holding UK by 79.1% during the 3rd quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock valued at $43,000 after acquiring an additional 20,000 shares in the last quarter. Russell Investments Group Ltd. grew its position in Polestar Automotive Holding UK by 45.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock worth $51,000 after acquiring an additional 14,877 shares during the last quarter. Focus Partners Wealth bought a new stake in Polestar Automotive Holding UK during the 1st quarter worth $62,000. Finally, Captrust Financial Advisors increased its holdings in Polestar Automotive Holding UK by 43.2% in the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after purchasing an additional 17,700 shares in the last quarter. Institutional investors and hedge funds own 1.02% of the company’s stock.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.