Polestar Automotive Holding UK (NASDAQ:PSNY) Director Quan (Joe) Zhang Purchases 1,700 Shares of Stock

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Quan (Joe) Zhang purchased 1,700 shares of Polestar Automotive Holding UK stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average cost of $17.70 per share, for a total transaction of $30,090.00. Following the completion of the transaction, the director owned 3,300 shares of the company’s stock, valued at approximately $58,410. This represents a 106.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Polestar Automotive Holding UK Stock Up 0.5%

PSNY opened at $20.44 on Friday. The stock 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 PLC has a 12 month low of $11.75 and a 12 month high of $42.60. The company has a fifty day simple moving average of $20.12 and a 200 day simple moving average of $52.17.

Polestar Automotive Holding UK (NASDAQ:PSNY) last posted its earnings results on Friday, April 17th. The company reported ($12.47) earnings per share for the quarter. The business had revenue of $817.75 million during the quarter. On average, equities research analysts expect that Polestar Automotive Holding UK PLC will post -8.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of large investors have recently added to or reduced their stakes in the company. Rathbones Group PLC raised its stake in shares of Polestar Automotive Holding UK by 79.1% in the 3rd quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock valued at $43,000 after purchasing an additional 20,000 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Polestar Automotive Holding UK by 28,277.8% during the first 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. Russell Investments Group Ltd. boosted 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 position in shares of Polestar Automotive Holding UK during the first quarter worth about $62,000. Finally, Captrust Financial Advisors lifted its stake in Polestar Automotive Holding UK by 43.2% in the 2nd quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock valued at $63,000 after acquiring an additional 17,700 shares in the last quarter. Institutional investors own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PSNY. Weiss Ratings upgraded Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 14th. 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. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Sell”.

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.