Polestar Automotive Holding UK (NASDAQ:PSNY) Director Xiaojie Shen Purchases 2,436 Shares

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Xiaojie Shen purchased 2,436 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were acquired at an average cost of $17.31 per share, with a total value of $42,167.16. Following the completion of the acquisition, the director directly owned 7,369 shares in the company, valued at approximately $127,557.39. This represents a 49.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Polestar Automotive Holding UK Stock Up 8.3%

Shares of NASDAQ PSNY opened at $20.33 on Thursday. Polestar Automotive Holding UK PLC has a 12-month low of $11.75 and a 12-month high of $42.60. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -1.04 and a beta of 1.32. The firm’s 50-day simple moving average is $20.07 and its 200 day simple moving average is $55.05.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rathbones Group PLC boosted its position in 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 acquiring an additional 20,000 shares during the last quarter. EverSource Wealth Advisors LLC grew its position 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 valued at $47,000 after acquiring an additional 2,545 shares during the period. Russell Investments Group Ltd. grew its holdings in Polestar Automotive Holding UK by 45.0% during the second 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 during the period. Focus Partners Wealth bought a new position in shares of Polestar Automotive Holding UK during the 1st quarter worth approximately $62,000. Finally, Captrust Financial Advisors boosted its position in Polestar Automotive Holding UK by 43.2% during the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after purchasing an additional 17,700 shares during the period. Institutional investors and hedge funds own 1.02% of the company’s stock.

Analysts Set New Price Targets

PSNY has been the subject of several recent research reports. Wall Street Zen raised Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings upgraded Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 14th. 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”.

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.