Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Purchases $42,167.16 in Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Xiaojie Shen purchased 2,436 shares of the business’s stock in a transaction on Monday, June 29th. The shares were bought at an average price of $17.31 per share, with a total value of $42,167.16. Following the purchase, the director directly owned 7,369 shares in the company, valued at approximately $127,557.39. The trade was a 49.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Polestar Automotive Holding UK Stock Performance

PSNY traded up $1.55 during midday trading on Wednesday, reaching $20.33. 138,861 shares of the company were exchanged, compared to its average volume of 181,576. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -1.04 and a beta of 1.29. Polestar Automotive Holding UK PLC has a one year low of $11.75 and a one year high of $42.60. The company’s fifty day moving average price is $20.04 and its 200 day moving average price is $57.44.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report 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 report on Thursday, May 14th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Polestar Automotive Holding UK has a consensus rating of “Sell”.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Polestar Automotive Holding UK by 28,277.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,554 shares of the company’s stock worth $47,000 after buying an additional 2,545 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Polestar Automotive Holding UK by 74.8% in the 1st quarter. Pictet Asset Management Holding SA now owns 7,465 shares of the company’s stock worth $138,000 after buying an additional 3,194 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of 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 valued at $184,000 after acquiring an additional 6,300 shares in the last quarter. SmartHarvest Portfolios LLC bought a new position in shares of Polestar Automotive Holding UK in the first quarter valued at approximately $186,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Polestar Automotive Holding UK during the fourth quarter valued at approximately $219,000. Hedge funds and other institutional investors 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.