Polestar Automotive Holding UK (NASDAQ:PSNY) Stock Price Down 6.5% – Time to Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) was down 6.5% on Thursday . The company traded as low as $18.06 and last traded at $17.69. 18,430 shares traded hands during trading, a decline of 90% from the average session volume of 177,185 shares. The stock had previously closed at $18.92.

Analyst Upgrades and Downgrades

PSNY has been the topic of several recent analyst reports. 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 raised Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Stock Performance

The stock has a 50-day simple moving average of $20.27 and a 200 day simple moving average of $42.00. The stock has a market capitalization of $1.69 billion, a P/E ratio of -0.93 and a beta of 1.32.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its earnings results on Friday, April 17th. The company reported ($12.47) earnings per share for the quarter. The firm had revenue of $817.75 million during the quarter. Equities analysts predict that Polestar Automotive Holding UK PLC will post -8.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Xiaojie Shen bought 2,436 shares of Polestar Automotive Holding UK stock in a transaction on Monday, June 29th. The shares were purchased at an average price of $17.31 per share, for a total transaction of $42,167.16. Following the completion of the acquisition, the director owned 7,369 shares in the company, valued at approximately $127,557.39. This represents a 49.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Winfried Vahland acquired 6,700 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average price of $19.72 per share, with a total value of $132,124.00. Following the acquisition, the director owned 31,979 shares of the company’s stock, valued at approximately $630,625.88. This trade represents a 26.50% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 21,829 shares of company stock worth $396,522 and sold 4,211 shares worth $74,450. Company insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised 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 buying an additional 2,545 shares during the period. California State Teachers Retirement System grew its stake in Polestar Automotive Holding UK by 184.5% in the first quarter. California State Teachers Retirement System now owns 46,546 shares of the company’s stock valued at $857,000 after purchasing an additional 30,185 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings 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 during the last quarter. Swiss National Bank raised its holdings in shares of Polestar Automotive Holding UK by 195.4% in the 1st quarter. Swiss National Bank now owns 88,893 shares of the company’s stock valued at $1,637,000 after purchasing an additional 58,800 shares during the period. Finally, Pictet Asset Management Holding SA lifted its position in shares of Polestar Automotive Holding UK by 74.8% in 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 last quarter. 1.02% of the stock is currently owned by institutional investors.

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.