Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Buys 1,275 Shares of Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Cynthia Dubin acquired 1,275 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was purchased at an average cost of $20.72 per share, for a total transaction of $26,418.00. Following the acquisition, the director owned 3,195 shares in the company, valued at approximately $66,200.40. This trade represents a 66.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Polestar Automotive Holding UK Trading Down 0.4%

Polestar Automotive Holding UK stock traded down $0.08 during midday trading on Monday, reaching $20.36. 71,683 shares of the stock traded hands, compared to its average volume of 180,367. Polestar Automotive Holding UK PLC has a fifty-two week low of $11.75 and a fifty-two week high of $42.60. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -1.04 and a beta of 1.32. The firm has a fifty day moving average price of $20.16 and a two-hundred day moving average price of $49.47.

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

Institutional Investors Weigh In On Polestar Automotive Holding UK

Institutional investors and hedge funds have recently modified their holdings of the stock. Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in shares of Polestar Automotive Holding UK in the 4th quarter valued at approximately $160,160,000. UBS Group AG raised its position in Polestar Automotive Holding UK by 22.6% during the third quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock valued at $2,265,000 after buying an additional 443,359 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Polestar Automotive Holding UK in the 2nd quarter worth about $326,000. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in Polestar Automotive Holding UK in the 4th quarter worth about $3,111,000. Finally, Bank of America Corp DE boosted its position in Polestar Automotive Holding UK by 128.7% during the 3rd quarter. Bank of America Corp DE now owns 164,594 shares of the company’s stock worth $155,000 after acquiring an additional 92,621 shares during the period. 1.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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