Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Up 10.3% – What’s Next?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) rose 10.3% during trading on Wednesday . The company traded as high as $20.44 and last traded at $20.7060. Approximately 82,010 shares were traded during trading, a decline of 55% from the average session volume of 181,095 shares. The stock had previously closed at $18.78.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. 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. 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. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Polestar Automotive Holding UK currently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Price Performance

The company’s 50-day moving average is $20.04 and its 200-day moving average is $57.44. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -1.05 and a beta of 1.29.

Insiders Place Their Bets

In related news, Director Winfried Vahland purchased 6,700 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were bought at an average price of $19.72 per share, for a total transaction of $132,124.00. Following the acquisition, the director directly owned 31,979 shares in the company, valued at $630,625.88. This trade represents a 26.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 4,211 shares of company stock worth $74,450 over the last quarter. Company insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in Polestar Automotive Holding UK during the fourth quarter worth about $160,160,000. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Polestar Automotive Holding UK in the 4th quarter valued at about $3,111,000. JPMorgan Chase & Co. lifted its stake in shares of Polestar Automotive Holding UK by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 167,188 shares of the company’s stock valued at $157,000 after purchasing an additional 10,780 shares in the last quarter. Rathbones Group PLC grew its holdings 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 worth $43,000 after purchasing an additional 20,000 shares during the period. Finally, California State Teachers Retirement System grew its holdings in shares of Polestar Automotive Holding UK by 184.5% during the 1st quarter. California State Teachers Retirement System now owns 46,546 shares of the company’s stock worth $857,000 after purchasing an additional 30,185 shares during the period. 1.02% of the stock is owned by hedge funds and other institutional investors.

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.