Invesco Capital Management LLC recently announced the acquisition of new stake in Polestar Automotive Holding UK PLC ADR (NASDAQ:PSNY). The institutional investor has increased its shareholding in the Consumer Cyclical company by 10.68% to 2.83 million shares with purchase of 0.27 million shares. This fresh investment now brings its stake to 0.61% valued currently at $6.26 million. In addition, Millennium Management LLC raised its holdings by 1.61 million to 1.61 million shares. And TOBAM SAS has lifted its position by 99.02% or 0.46 million shares – to 0.92 million shares.
With over 3.66 million Polestar Automotive Holding UK PLC ADR (PSNY) shares trading Tuesday and a closing price of $2.49 on the day, the dollar volume was approximately $9.1 million. The shares have shown a negative half year performance of -32.52% and its price on 12/26/23 gained nearly 8.26%. Currently, there are 467.68M common shares owned by the public and among those 467.64M shares have been available to trade.
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The top 3 mutual fund holders in Polestar Automotive Holding UK PLC ADR are Invesco WilderHill Clean Energy E, BNP Paribas Funds – Energy Transi, and iShares Self-Driving EV & Tech ET. Invesco WilderHill Clean Energy E owns 2.88 million shares of the company’s stock, all valued at over $6.37 million. iShares Self-Driving EV & Tech ET now owns shares totaling to 0.24% of the shares outstanding.
Shares of Polestar Automotive Holding UK PLC ADR (NASDAQ: PSNY) opened at $2.31, up $0.01 from a prior closing price of $2.30. The company’s stock has a 5-day price change of 3.75% and 3.75% over the past three months. PSNY shares are trading -53.11% year to date (YTD), with the 12-month market performance down to -47.69% lower. It has a 12-month low price of $1.98 and touched a high of $6.59 over the same period. PSNY has an average intraday trading volume of 2.85 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.01%, 11.01%, and -23.58% respectively.
Institutional ownership of Polestar Automotive Holding UK PLC ADR (NASDAQ: PSNY) shares accounts for 4.54% of the company’s 467.68M shares outstanding. Mutual fund holders own 1.71%, while other institutional holders and individual stakeholders account for 2.84% and — respectively.
It has a market capitalization of $1.17B and a beta (3y monthly) value of 1.66. The earnings-per-share (ttm) stands at -$0.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.71% over the week and 6.29% over the month.
Analysts forecast that Polestar Automotive Holding UK PLC ADR (PSNY) will achieve an EPS of -$0.16 for the current quarter, -$0.12 for the next quarter and -$0.48 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.17 while analysts give the company a high EPS estimate of -$0.15. Earnings per share for the fiscal year are expected to increase by 12.82%, and -11.51% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Polestar Automotive Holding UK PLC ADR (PSNY) as a “Moderate Buy” at a consensus score of 2.89. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 4 of the 9 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the PSNY, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on November 01, 2023, with the firm’s price target at $3.
