Polestar Automotive Holding UK (NASDAQ:PSNY) Trading Up 10.3% After Insider Buying Activity

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price shot up 10.3% during mid-day trading on Wednesday following insider buying activity. The stock traded as high as $20.44 and last traded at $20.7060. Approximately 82,010 shares were traded during trading, a decline of 55% from the average session volume of 181,095 shares. The stock had previously closed at $18.78.

Specifically, Director Karl-Thomas Neumann bought 2,009 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were bought at an average price of $16.93 per share, with a total value of $34,012.37. Following the completion of the transaction, the director directly owned 7,998 shares in the company, valued at approximately $135,406.14. This represents a 33.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Xiaojie Shen acquired 2,436 shares of the company’s stock in a transaction on Monday, June 29th. The shares were bought at an average price of $17.31 per share, for a total transaction of $42,167.16. Following the completion of the purchase, the director owned 7,369 shares in the company, valued at approximately $127,557.39. This represents a 49.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In other news, Director Winfried Vahland bought 6,000 shares of Polestar Automotive Holding UK stock in a transaction dated Monday, June 29th. The stock was purchased at an average price of $16.95 per share, for a total transaction of $101,700.00. Following the purchase, the director directly owned 37,979 shares in the company, valued at $643,744.05. The trade was a 18.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several research analysts recently weighed in on PSNY shares. 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. Weiss Ratings raised Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Polestar Automotive Holding UK currently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Stock Performance

The firm has a 50 day moving average price of $20.12 and a two-hundred day moving average price of $52.17. The company has a market cap of $1.91 billion, a P/E ratio of -1.05 and a beta of 1.32.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Friday, April 17th. The company reported ($12.47) EPS for the quarter. The business had revenue of $817.75 million for the quarter. On average, sell-side analysts predict that Polestar Automotive Holding UK PLC will post -8.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in 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 acquiring an additional 2,545 shares during the period. Pictet Asset Management Holding SA boosted its stake in Polestar Automotive Holding UK by 74.8% during the first quarter. Pictet Asset Management Holding SA now owns 7,465 shares of the company’s stock valued at $138,000 after buying an additional 3,194 shares during the period. Public Employees Retirement System of Ohio grew its position in Polestar Automotive Holding UK by 171.8% during the first quarter. Public Employees Retirement System of Ohio now owns 9,966 shares of the company’s stock worth $184,000 after buying an additional 6,300 shares in the last quarter. SmartHarvest Portfolios LLC bought a new position in Polestar Automotive Holding UK in the 1st quarter worth about $186,000. Finally, Alpine Global Management LLC bought a new stake in shares of Polestar Automotive Holding UK during the 4th quarter valued at about $219,000. 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.