Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Down 6.5% – Should You Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) fell 6.5% during mid-day trading on Thursday . The stock traded as low as $18.06 and last traded at $17.69. 18,430 shares changed hands during trading, a decline of 90% from the average daily volume of 177,185 shares. The stock had previously closed at $18.92.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PSNY shares. Wall Street Zen raised shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research 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 note on Thursday, May 14th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Stock Performance

The stock’s 50 day simple moving average is $20.28 and its 200 day simple moving average is $39.28. The firm has a market cap of $1.75 billion, a P/E ratio of -0.97 and a beta of 1.32.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Friday, April 17th. The company reported ($12.47) earnings per share for the quarter. The business had revenue of $817.75 million for the quarter. As a group, analysts forecast that Polestar Automotive Holding UK PLC will post -8.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Winfried Vahland acquired 6,700 shares of the stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of $19.72 per share, with a total value of $132,124.00. Following the completion of the purchase, the director directly owned 31,979 shares in the company, valued at $630,625.88. This trade represents a 26.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Quan (Joe) Zhang bought 1,700 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of $17.70 per share, for a total transaction of $30,090.00. Following the acquisition, the director directly owned 3,300 shares of the company’s stock, valued at approximately $58,410. This represents a 106.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 21,829 shares of company stock worth $396,522 and have sold 4,211 shares worth $74,450. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in shares of 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 worth $47,000 after acquiring an additional 2,545 shares in the last quarter. Russell Investments Group Ltd. grew its position in Polestar Automotive Holding UK by 45.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock worth $51,000 after purchasing an additional 14,877 shares in the last quarter. Focus Partners Wealth purchased a new stake in Polestar Automotive Holding UK in the 1st quarter valued at about $62,000. Captrust Financial Advisors increased its stake in Polestar Automotive Holding UK by 43.2% in the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock valued at $63,000 after buying an additional 17,700 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its position in shares of Polestar Automotive Holding UK by 26.7% during the 2nd quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock worth $89,000 after buying an additional 17,590 shares in the last quarter. 1.02% of the stock is currently owned by 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.