Stock Traders Buy Large Volume of Polestar Automotive Holding UK Call Options (NASDAQ:PSNY)

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) saw unusually large options trading on Monday. Investors bought 2,683 call options on the stock. This represents an increase of approximately 75% compared to the average volume of 1,531 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PSNY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Polestar Automotive Holding UK in a research note on Wednesday, October 8th. Wall Street Zen cut Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Polestar Automotive Holding UK in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $1.25.

Polestar Automotive Holding UK Stock Down 0.6%

Polestar Automotive Holding UK stock opened at $0.88 on Wednesday. Polestar Automotive Holding UK has a 12-month low of $0.82 and a 12-month high of $1.42. The business’s 50-day simple moving average is $1.00 and its 200 day simple moving average is $1.05. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -1.35 and a beta of 1.36.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its earnings results on Wednesday, September 3rd. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $790.79 million during the quarter, compared to analyst estimates of $850.00 million. As a group, sell-side analysts expect that Polestar Automotive Holding UK will post -0.59 EPS for the current year.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Several hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its stake in Polestar Automotive Holding UK by 43.2% in the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock valued at $63,000 after buying an additional 17,700 shares during the period. Rafferty Asset Management LLC lifted its stake in Polestar Automotive Holding UK by 99.1% in the second quarter. Rafferty Asset Management LLC now owns 106,630 shares of the company’s stock valued at $114,000 after buying an additional 53,086 shares during the period. California State Teachers Retirement System lifted its stake in Polestar Automotive Holding UK by 18.6% in the second quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock valued at $491,000 after buying an additional 72,023 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Polestar Automotive Holding UK in the second quarter valued at about $326,000. Finally, Cresset Asset Management LLC lifted its stake in Polestar Automotive Holding UK by 26.7% in the second quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock valued at $89,000 after buying an additional 17,590 shares during the period. Institutional investors and hedge funds own 1.02% of the company’s stock.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.