Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Purchases 2,436 Shares

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Xiaojie Shen acquired 2,436 shares of Polestar Automotive Holding UK stock in a transaction on Monday, June 29th. The stock was acquired at an average price of $17.31 per share, with a total value of $42,167.16. Following the purchase, the director directly owned 7,369 shares in the company, valued at approximately $127,557.39. This trade represents a 49.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Polestar Automotive Holding UK Price Performance

Shares of NASDAQ PSNY traded up $1.55 during mid-day trading on Wednesday, reaching $20.33. 138,861 shares of the company’s stock were exchanged, compared to its average volume of 181,576. The firm has a 50-day moving average price of $20.04 and a two-hundred day moving average price of $57.44. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -1.04 and a beta of 1.29. Polestar Automotive Holding UK PLC has a 52 week low of $11.75 and a 52 week high of $42.60.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PSNY shares. Wall Street Zen raised shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. 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. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently modified their holdings of the business. Rathbones Group PLC lifted its stake 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 buying an additional 20,000 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Polestar Automotive Holding UK by 28,277.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,554 shares of the company’s stock valued at $47,000 after buying an additional 2,545 shares in the last quarter. Russell Investments Group Ltd. raised its holdings 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 valued at $51,000 after acquiring an additional 14,877 shares during the period. Focus Partners Wealth bought a new stake in Polestar Automotive Holding UK during the 1st quarter valued at $62,000. Finally, Captrust Financial Advisors raised its holdings in Polestar Automotive Holding UK by 43.2% during the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock valued at $63,000 after acquiring an additional 17,700 shares during the period. Institutional investors own 1.02% of the company’s stock.

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.