Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Set to Reverse Split on Tuesday, December 9th

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares are scheduled to reverse split on the morning of Tuesday, December 9th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 8th.

Polestar Automotive Holding UK Price Performance

PSNY stock opened at $0.63 on Friday. Polestar Automotive Holding UK has a 12 month low of $0.50 and a 12 month high of $1.42. The firm’s 50-day moving average is $0.77 and its 200 day moving average is $0.97. The company has a market capitalization of $1.36 billion, a PE ratio of -0.97 and a beta of 1.37.

Polestar Automotive Holding UK (NASDAQ:PSNY) last released its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.10) earnings per share (EPS) 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 analysts’ expectations of $850.00 million. Sell-side analysts forecast that Polestar Automotive Holding UK will post -0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Tuesday, November 25th. Zacks Research downgraded Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a report on Friday, November 14th. Wall Street Zen lowered Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Thursday, September 4th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG grew its stake in Polestar Automotive Holding UK by 22.5% in the first quarter. Deutsche Bank AG now owns 794,873 shares of the company’s stock valued at $835,000 after purchasing an additional 146,107 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Polestar Automotive Holding UK by 1,096.8% in the 1st quarter. Invesco Ltd. now owns 146,238 shares of the company’s stock valued at $154,000 after buying an additional 134,019 shares in the last quarter. Goldman Sachs Group Inc. grew its position 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 buying an additional 57,717 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Polestar Automotive Holding UK by 61.2% in the 1st quarter. Advisors Asset Management Inc. now owns 449,227 shares of the company’s stock worth $472,000 after buying an additional 170,563 shares during the last quarter. Finally, SCS Capital Management LLC bought a new position in shares of Polestar Automotive Holding UK during the 1st quarter worth approximately $43,000. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Company Profile

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