Karl-Thomas Neumann Buys 2,009 Shares of Polestar Automotive Holding UK (NASDAQ:PSNY) Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Karl-Thomas Neumann purchased 2,009 shares of the business’s stock in a transaction on Monday, June 29th. The stock was purchased at an average cost of $16.93 per share, with a total value of $34,012.37. Following the acquisition, the director owned 7,998 shares in the company, valued at approximately $135,406.14. This represents a 33.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Polestar Automotive Holding UK Trading Up 0.5%

Shares of NASDAQ:PSNY opened at $20.44 on Friday. The firm has a market capitalization of $1.91 billion, a PE ratio of -1.05 and a beta of 1.32. Polestar Automotive Holding UK PLC has a 1-year low of $11.75 and a 1-year high of $42.60. The business’s 50 day moving average is $20.12 and its 200-day moving average is $52.17.

Polestar Automotive Holding UK (NASDAQ:PSNY) last issued its earnings results on Friday, April 17th. The company reported ($12.47) EPS for the quarter. The company had revenue of $817.75 million during the quarter. On average, sell-side analysts predict that Polestar Automotive Holding UK PLC will post -8.08 EPS for the current year.

Institutional Trading of Polestar Automotive Holding UK

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of 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 valued at $47,000 after acquiring an additional 2,545 shares during the last quarter. California State Teachers Retirement System grew its position in 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 acquiring an additional 30,185 shares during the last quarter. Public Employees Retirement System of Ohio grew its position 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 worth $184,000 after acquiring an additional 6,300 shares during the last quarter. Swiss National Bank increased its holdings in Polestar Automotive Holding UK by 195.4% during the 1st quarter. Swiss National Bank now owns 88,893 shares of the company’s stock valued at $1,637,000 after purchasing an additional 58,800 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in Polestar Automotive Holding UK by 74.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 7,465 shares of the company’s stock valued at $138,000 after purchasing an additional 3,194 shares in the last quarter. Institutional investors and hedge funds own 1.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PSNY. Wall Street Zen upgraded shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings upgraded 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 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, the stock currently has an average rating of “Sell”.

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.