Polestar Automotive Holding UK (NASDAQ:PSNY) Rating Lowered to Sell at Wall Street Zen

Polestar Automotive Holding UK (NASDAQ:PSNY) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Separately, Weiss Ratings upgraded shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Stock Up 4.1%

PSNY traded up $0.74 during trading on Friday, hitting $18.70. 84,493 shares of the stock were exchanged, compared to its average volume of 126,183. Polestar Automotive Holding UK has a 1-year low of $11.75 and a 1-year high of $42.60. The stock has a fifty day moving average price of $20.28 and a two-hundred day moving average price of $39.28. The firm has a market capitalization of $1.75 billion, a P/E ratio of -0.97 and a beta of 1.32.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted its quarterly earnings data on Friday, April 17th. The company reported ($12.47) earnings per share for the quarter. The firm had revenue of $817.75 million during the quarter. Analysts predict that Polestar Automotive Holding UK will post -8.08 EPS for the current year.

Insider Activity

In related news, Director Francesca Paola Leandr Gamboni purchased 1,709 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average price of $17.56 per share, with a total value of $30,010.04. Following the completion of the acquisition, the director directly owned 4,792 shares in the company, valued at $84,147.52. This represents a 55.43% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Xiaojie Shen purchased 2,436 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was bought at an average price of $17.31 per share, for a total transaction of $42,167.16. Following the transaction, the director directly owned 7,369 shares in the company, valued at $127,557.39. This trade represents a 49.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 21,829 shares of company stock valued at $396,522 and have sold 4,211 shares valued at $74,450. Corporate insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PSNY. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Polestar Automotive Holding UK during the fourth quarter worth $160,160,000. UBS Group AG increased its stake in Polestar Automotive Holding UK by 22.6% in the 3rd quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock valued at $2,265,000 after buying an additional 443,359 shares during the period. Goldman Sachs Group Inc. raised its position in Polestar Automotive Holding UK by 12.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock worth $555,000 after buying an additional 57,717 shares during the last quarter. California State Teachers Retirement System raised its position in Polestar Automotive Holding UK by 18.6% during the 2nd quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock worth $491,000 after buying an additional 72,023 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Polestar Automotive Holding UK during the 2nd quarter worth $326,000. Institutional investors and hedge funds own 1.02% of the company’s stock.

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.