Polestar Automotive Holding UK (NASDAQ:PSNY) Director Buys $30,090.00 in Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Quan (Joe) Zhang acquired 1,700 shares of the stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of $17.70 per share, with a total value of $30,090.00. Following the completion of the transaction, the director owned 3,300 shares in the company, valued at approximately $58,410. This represents a 106.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ:PSNY opened at $20.44 on Friday. The company 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 twelve month low of $11.75 and a twelve month high of $42.60. The firm has a 50 day simple moving average of $20.16 and a 200-day simple moving average of $51.94.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted its earnings results on Friday, April 17th. The company reported ($12.47) EPS for the quarter. The company had revenue of $817.75 million for the quarter. As a group, equities research analysts predict that Polestar Automotive Holding UK PLC will post -8.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of hedge funds have recently modified their holdings of PSNY. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in Polestar Automotive Holding UK in the fourth quarter valued at $160,160,000. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in shares of Polestar Automotive Holding UK in the fourth quarter valued at about $3,111,000. JPMorgan Chase & Co. boosted its stake in shares of Polestar Automotive Holding UK by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 167,188 shares of the company’s stock worth $157,000 after buying an additional 10,780 shares during the period. Rathbones Group PLC boosted its stake in shares of Polestar Automotive Holding UK by 79.1% during the third quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock worth $43,000 after buying an additional 20,000 shares during the period. Finally, Focus Partners Wealth purchased a new position in shares of Polestar Automotive Holding UK during the first quarter worth about $62,000. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings raised Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 14th. Wall Street Zen raised Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently 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.