Winfried Vahland Acquires 6,700 Shares of Polestar Automotive Holding UK (NASDAQ:PSNY) Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Winfried Vahland acquired 6,700 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $19.72 per share, for a total transaction of $132,124.00. Following the completion of the purchase, the director directly owned 31,979 shares of the company’s stock, valued at approximately $630,625.88. The trade was a 26.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Polestar Automotive Holding UK Trading Up 2.9%

Shares of Polestar Automotive Holding UK stock opened at $19.41 on Friday. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -0.99 and a beta of 1.29. Polestar Automotive Holding UK PLC has a 1-year low of $11.75 and a 1-year high of $42.60. The firm’s 50-day moving average price is $19.95 and its two-hundred day moving average price is $120.22.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. 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. Cantor Fitzgerald cut shares of Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research note on Thursday, February 19th. Finally, Wall Street Zen raised shares of 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in 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 during the period. Pictet Asset Management Holding SA raised its holdings in Polestar Automotive Holding UK by 74.8% in the first quarter. Pictet Asset Management Holding SA now owns 7,465 shares of the company’s stock worth $138,000 after purchasing an additional 3,194 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Polestar Automotive Holding UK by 171.8% in the first quarter. Public Employees Retirement System of Ohio now owns 9,966 shares of the company’s stock worth $184,000 after purchasing an additional 6,300 shares during the period. SmartHarvest Portfolios LLC acquired a new stake in Polestar Automotive Holding UK in the first quarter worth $186,000. Finally, Alpine Global Management LLC acquired a new stake in Polestar Automotive Holding UK in the fourth quarter worth $219,000. 1.02% of the stock is owned by institutional investors.

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.