Polestar Automotive Holding UK (NASDAQ:PSNY) Sets New 1-Year Low - Should You Sell?

Polestar Automotive Holding UK PLC (NASDAQ:PSNY - Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $7.80 and last traded at $7.96, with a volume of 596794 shares traded. The stock had previously closed at $8.93.

Wall Street Analyst Weigh In

PSNY has been the topic of several research reports. Wall Street Zen lowered shares of Polestar Automotive Holding UK from a "sell" rating to a "strong sell" rating in a research report on Saturday, September 5th. Cantor Fitzgerald reiterated an "underweight" rating on shares of Polestar Automotive Holding UK in a research note on Friday, September 4th. Finally, Weiss Ratings cut shares of Polestar Automotive Holding UK from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 25th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Sell".

Polestar Automotive Holding UK Trading Down 10.9%

The stock has a fifty day simple moving average of $14.24 and a two-hundred day simple moving average of $17.55. The firm has a market cap of $742.99 million, a PE ratio of -0.41 and a beta of 1.32.

Polestar Automotive Holding UK (NASDAQ:PSNY - Get Free Report) last posted its earnings results on Thursday, September 3rd. The company reported ($3.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.19) by ($0.96). The business had revenue of $680.05 million for the quarter, compared to analyst estimates of $878.10 million. As a group, sell-side analysts predict that Polestar Automotive Holding UK PLC will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Polestar Automotive Holding UK

In other Polestar Automotive Holding UK news, Director Karl-Thomas Neumann acquired 2,009 shares of the business's stock in a transaction dated Monday, June 29th. The stock was bought at an average price of $16.93 per share, with a total value of $34,012.37. Following the completion of the acquisition, the director owned 7,998 shares of the company's stock, valued at $135,406.14. This trade represents a 33.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Winfried Vahland acquired 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was bought at an average price of $16.95 per share, for a total transaction of $101,700.00. Following the completion of the transaction, the director owned 37,979 shares of the company's stock, valued at $643,744.05. The trade was a 18.76% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 15,129 shares of company stock valued at $264,398 over the last 90 days. Insiders own 0.02% of the company's stock.

Institutional Trading of Polestar Automotive Holding UK

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Polestar Automotive Holding UK in the fourth quarter worth $160,160,000. UBS Group AG lifted its stake in Polestar Automotive Holding UK by 22.6% during the third quarter. UBS Group AG now owns 2,409,258 shares of the company's stock worth $2,265,000 after purchasing an additional 443,359 shares during the last quarter. California State Teachers Retirement System lifted its stake in Polestar Automotive Holding UK by 2,733.7% during the second quarter. California State Teachers Retirement System now owns 1,318,995 shares of the company's stock worth $24,771,000 after purchasing an additional 1,272,449 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Polestar Automotive Holding UK by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company's stock worth $555,000 after purchasing an additional 57,717 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Polestar Automotive Holding UK during the 2nd quarter valued at about $326,000. Hedge funds and other 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.

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