In yesterday’s Wall Street session, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) shares traded at $2.78, down -2.11% from the previous session.
As of this writing, 8 analysts cover Polestar Automotive Holding UK PLC (NASDAQ:PSNY). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $9.00 and a low of $1.60, we find $5.00. Given the previous closing price of $2.84, this indicates a potential upside of 76.06 percent. PSNY stock price is now -30.84% away from the 50-day moving average and -37.79% away from the 200-day moving average. The market capitalization of the company currently stands at $6.05B.
There are 2 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $5.09 as their price target over the next twelve months.
With the price target reduced from $5 to $3, Barclays Downgraded its rating from Equal Weight to Underweight for Polestar Automotive Holding UK PLC (NASDAQ: PSNY).
A total of 47.31% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PSNY stock. A new stake in Polestar Automotive Holding UK PLC shares was purchased by STATE STREET CORP during the first quarter worth $920,000. LEGAL & GENERAL GROUP PLC invested $527,000 in shares of PSNY during the first quarter. In the first quarter, MITSUBISHI UFJ KOKUSAI ASSET MANAGEMENT CO., LTD. acquired a new stake in Polestar Automotive Holding UK PLC valued at approximately $445,000. GTS SECURITIES LLC acquired a new stake in PSNY for approximately $263,000. ERGOTELES LLC purchased a new stake in PSNY valued at around $256,000 in the second quarter.
Tuesday morning saw Polestar Automotive Holding UK PLC (NASDAQ: PSNY) opened at $2.8200. During the past 12 months, Polestar Automotive Holding UK PLC has had a low of $2.78 and a high of $8.26. The fifty day moving average price for PSNY is $3.9988 and a two-hundred day moving average price translates $4.4434 for the stock.
The latest earnings results from Polestar Automotive Holding UK PLC (NASDAQ: PSNY) was released for Jun, 2023. According to the Auto Manufacturers Company, earnings per share came in at -$0.14, missing analysts’ expectations of -$0.12 by -0.02. This compares to -$0.14 EPS in the same period last year. The net profit margin was -10.40% and return on equity was 181.40% for PSNY. The company reported revenue of $685.25 million for the quarter, compared to $452.23 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 51.53 percent. For the current quarter, analysts expect PSNY to generate $794.35M in revenue.
Polestar Automotive Holding UK PLC(PSNY) 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.
