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

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

Polestar Automotive Holding UK Stock Up 9.0%

Shares of Polestar Automotive Holding UK stock opened at $0.63 on Friday. The firm has a market cap of $1.36 billion, a PE ratio of -0.97 and a beta of 1.37. Polestar Automotive Holding UK has a twelve month low of $0.50 and a twelve month high of $1.42. The business has a 50-day moving average price of $0.77 and a 200 day moving average price of $0.97.

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

Analyst Ratings Changes

PSNY has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Tuesday, November 25th. Zacks Research lowered shares of Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a report on Friday, November 14th. Wall Street Zen cut shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SCS Capital Management LLC acquired a new position in Polestar Automotive Holding UK during the first quarter worth $43,000. Rathbones Group PLC boosted its position 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 during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Polestar Automotive Holding UK by 45.0% in the second quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock valued at $51,000 after purchasing an additional 14,877 shares during the period. Captrust Financial Advisors increased its position in Polestar Automotive Holding UK by 43.2% during the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after purchasing an additional 17,700 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Polestar Automotive Holding UK in the 1st quarter valued at approximately $62,000. 1.02% of the stock is currently owned by institutional investors and hedge funds.

Polestar Automotive Holding UK Company Profile

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