Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Up on Insider Buying Activity

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $18.87, but opened at $19.95. Polestar Automotive Holding UK shares last traded at $19.5450, with a volume of 9,568 shares traded.

Specifically, Director Winfried Vahland acquired 6,700 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $19.72 per share, for a total transaction of $132,124.00. Following the transaction, the director owned 31,979 shares of the company’s stock, valued at $630,625.88. This trade represents a 26.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

Several research firms have issued reports on PSNY. Weiss Ratings raised Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Cantor Fitzgerald downgraded Polestar Automotive Holding UK from a “neutral” rating to an “underweight” rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Trading Up 4.1%

The company has a market cap of $1.83 billion, a P/E ratio of -1.01 and a beta of 1.29. The company has a 50 day moving average price of $19.91 and a 200-day moving average price of $123.41.

Institutional Trading of Polestar Automotive Holding UK

A number of hedge funds have recently added to or reduced their stakes in PSNY. Rathbones Group PLC boosted its holdings in shares of Polestar Automotive Holding UK by 79.1% during the 3rd quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock valued at $43,000 after acquiring an additional 20,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Polestar Automotive Holding UK by 28,277.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,554 shares of the company’s stock valued at $47,000 after acquiring an additional 2,545 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Polestar Automotive Holding UK by 45.0% during the second quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock worth $51,000 after buying an additional 14,877 shares during the period. Focus Partners Wealth acquired a new stake in Polestar Automotive Holding UK during the 1st quarter worth about $62,000. Finally, Captrust Financial Advisors grew its stake in Polestar Automotive Holding UK by 43.2% during the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after purchasing an additional 17,700 shares during the period. Institutional investors and hedge funds own 1.02% of the company’s stock.

Polestar Automotive Holding UK Company Profile

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.