Polestar Automotive Holding UK (NASDAQ:PSNY) Reaches New 12-Month Low – Should You Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares hit a new 52-week low on Thursday . The company traded as low as $10.80 and last traded at $10.7740, with a volume of 20353 shares trading hands. The stock had previously closed at $11.99.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PSNY shares. Wall Street Zen cut Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings cut Polestar Automotive Holding UK from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 25th. 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 stock has a consensus rating of “Sell”.

Polestar Automotive Holding UK Stock Down 24.5%

The firm has a market cap of $845.17 million, a PE ratio of -0.48 and a beta of 1.32. The firm’s fifty day simple moving average is $15.22 and its two-hundred day simple moving average is $17.86.

Polestar Automotive Holding UK (NASDAQ:PSNY) last announced its quarterly earnings data on Thursday, September 3rd. The company reported ($3.15) earnings per share (EPS) for the quarter. The firm had revenue of $680.05 million for the quarter. As a group, analysts anticipate that Polestar Automotive Holding UK PLC will post -8.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Quan (Joe) Zhang bought 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average price of $17.70 per share, with a total value of $30,090.00. Following the acquisition, the director owned 3,300 shares of the company’s stock, valued at approximately $58,410. This represents a 106.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Xiaojie Shen purchased 2,436 shares of the business’s 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 $127,557.39. This represents a 49.38% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 15,129 shares of company stock worth $264,398 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Institutional Trading of Polestar Automotive Holding UK

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its stake in Polestar Automotive Holding UK by 28,277.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,554 shares of the company’s stock valued at $47,000 after purchasing an additional 2,545 shares during the period. Nykredit A S bought a new position in Polestar Automotive Holding UK in the 2nd quarter worth approximately $65,000. Pictet Asset Management Holding SA boosted its stake in Polestar Automotive Holding UK by 74.8% in the 1st 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 grew its holdings in Polestar Automotive Holding UK by 171.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 9,966 shares of the company’s stock valued at $184,000 after buying an additional 6,300 shares in the last quarter. Finally, SmartHarvest Portfolios LLC purchased a new stake in Polestar Automotive Holding UK during the 1st quarter valued at approximately $186,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

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.