Polestar Automotive Holding UK (PSNY) Projected to Announce Quarterly Earnings on Friday

Polestar Automotive Holding UK (NASDAQ:PSNY) is expected to post its results before the market opens on Friday, July 17th. Analysts expect the company to announce earnings of ($4.2572) per share and revenue of $675.8950 million for the quarter.

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.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ:PSNY opened at $17.96 on Friday. Polestar Automotive Holding UK has a 52-week low of $11.75 and a 52-week high of $42.60. The firm has a market capitalization of $1.68 billion, a P/E ratio of -0.93 and a beta of 1.32. The stock has a 50 day moving average price of $20.26 and a 200-day moving average price of $39.42.

Analysts Set New Price Targets

Several brokerages recently weighed in on PSNY. Wall Street Zen raised Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings raised Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Insiders Place Their Bets

In other Polestar Automotive Holding UK news, Director Xiaojie Shen bought 2,436 shares of the stock in a transaction dated Monday, June 29th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $127,557.39. This trade represents a 49.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Francesca Paola Leandr Gamboni purchased 1,709 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average cost of $17.56 per share, for a total transaction of $30,010.04. Following the completion of the transaction, the director owned 4,792 shares in the company, valued at approximately $84,147.52. This represents a 55.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 21,829 shares of company stock valued at $396,522 and have sold 4,211 shares valued at $74,450. 0.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several hedge funds have recently added to or reduced their stakes in PSNY. Goldman Sachs Group Inc. increased its holdings in shares of Polestar Automotive Holding UK by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock valued at $555,000 after acquiring an additional 57,717 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Polestar Automotive Holding UK in the 1st quarter worth about $62,000. Russell Investments Group Ltd. boosted its stake in Polestar Automotive Holding UK by 45.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock worth $51,000 after purchasing an additional 14,877 shares in the last quarter. Cresset Asset Management LLC boosted its stake in Polestar Automotive Holding UK by 26.7% in the 2nd quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock worth $89,000 after purchasing an additional 17,590 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Polestar Automotive Holding UK during the 2nd quarter valued at about $326,000. 1.02% of the stock is 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.