Insider Selling: Polestar Automotive Holding UK (NASDAQ:PSNY) COO Sells $22,100.00 in Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) COO Jonas Hakan Engstrom sold 1,250 shares of Polestar Automotive Holding UK stock in a transaction on Monday, April 27th. The shares were sold at an average price of $17.68, for a total transaction of $22,100.00. Following the sale, the chief operating officer directly owned 2,518 shares of the company’s stock, valued at $44,518.24. This trade represents a 33.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Polestar Automotive Holding UK Stock Down 0.2%

Shares of NASDAQ:PSNY opened at $18.46 on Friday. The firm has a fifty day moving average of $18.42 and a two-hundred day moving average of $241.82. The firm has a market capitalization of $1.72 billion, a P/E ratio of -0.95 and a beta of 1.22. Polestar Automotive Holding UK PLC has a 12-month low of $11.75 and a 12-month high of $42.60.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald downgraded shares of Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a report on Thursday, February 19th. Zacks Research upgraded shares of Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Wall Street Zen upgraded shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Pictet Asset Management Holding SA raised its holdings in shares of Polestar Automotive Holding UK by 74.8% during the 1st quarter. Pictet Asset Management Holding SA now owns 7,465 shares of the company’s stock valued at $138,000 after purchasing an additional 3,194 shares in the last quarter. SmartHarvest Portfolios LLC bought a new position in shares of Polestar Automotive Holding UK during the 1st quarter valued at $186,000. Alpine Global Management LLC bought a new position in shares of Polestar Automotive Holding UK during the 4th quarter valued at $219,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Polestar Automotive Holding UK during the 4th quarter valued at $522,000. Finally, Rathbones Group PLC raised its holdings in Polestar Automotive Holding UK by 79.1% in 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 period. 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.