Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Purchases $101,700.00 in Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Winfried Vahland acquired 6,000 shares of Polestar Automotive Holding UK stock in a transaction on Monday, June 29th. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $101,700.00. Following the purchase, the director owned 37,979 shares of the company’s stock, valued at approximately $643,744.05. This represents a 18.76% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Winfried Vahland also recently made the following trade(s):

• On Monday, June 1st, Winfried Vahland bought 6,700 shares of Polestar Automotive Holding UK stock. The shares were acquired at an average price of $19.72 per share, for a total transaction of $132,124.00.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ:PSNY opened at $20.44 on Friday. The business has a fifty day moving average of $20.16 and a 200-day moving average of $51.94. Polestar Automotive Holding UK PLC has a twelve month low of $11.75 and a twelve month high of $42.60. The firm has a market cap of $1.91 billion, a PE ratio of -1.05 and a beta of 1.32.

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

Institutional Investors Weigh In On Polestar Automotive Holding UK

A number of institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted 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 valued at $47,000 after acquiring an additional 2,545 shares during the last quarter. Pictet Asset Management Holding SA increased its position 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 increased its position 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 bought a new stake in Polestar Automotive Holding UK during the 1st quarter worth about $186,000. Finally, Alpine Global Management LLC bought a new stake in Polestar Automotive Holding UK during the 4th quarter worth about $219,000. Institutional investors own 1.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PSNY shares. 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 analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Polestar Automotive Holding UK presently has a consensus rating of “Sell”.

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.