Polestar Automotive Holding UK PLC [NASDAQ: PSNY] gained 9.62% or 0.55 points to close at $6.27 with a heavy trading volume of 4225363 shares. The company report on January 9, 2023 that Polestar Delivers on 2022 Global Volumes Target.
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Polestar Automotive Holding UK PLC (“Polestar” or the “Company,” Nasdaq: PSNY), the Swedish electric performance car brand delivered approximately 21,000 vehicles in the fourth quarter of 2022, bringing the preliminary estimate for full year global volumes to 51,500 cars, up 80% year-on-year.
In 2023, Polestar anticipates global volumes to increase by nearly 60% to approximately 80,000 cars, led by strong Polestar 2 sales, and later in the year the first deliveries of Polestar 3.
It opened the trading session at $5.90, the shares rose to $6.45 and dropped to $5.85, the range by which the price of stock traded the whole day. The daily chart for PSNY points out that the company has recorded -30.10% loss over the past six months. However, it is still -56.75% lower than its most recent low trading price.
If we look at the average trading volume of 2.85M shares, PSNY reached to a volume of 4225363 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Polestar Automotive Holding UK PLC [PSNY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PSNY shares is $10.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PSNY stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Polestar Automotive Holding UK PLC shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 16, 2022. While these analysts kept the previous recommendation, Redburn raised their target price to Sell. The new note on the price target was released on September 09, 2022, representing the official price target for Polestar Automotive Holding UK PLC stock. Previously, the target price had yet another raise to $10, while Deutsche Bank analysts kept a Hold rating on PSNY stock.
The Average True Range (ATR) for Polestar Automotive Holding UK PLC is set at 0.39, with the Price to Sales ratio for PSNY stock in the period of the last 12 months amounting to 9.50. The Price to Book ratio for the last quarter was 104.50, with the Price to Cash per share for the same quarter was set at 0.37.
Trading performance analysis for PSNY stock
Polestar Automotive Holding UK PLC [PSNY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.36. With this latest performance, PSNY shares gained by 17.86% in over the last four-week period, additionally sinking by -30.10% over the last 6 months – not to mention a drop of -40.11% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PSNY stock in for the last two-week period is set at 61.10, with the RSI for the last a single of trading hit 65.92, and the three-weeks RSI is set at 57.59 for Polestar Automotive Holding UK PLC [PSNY]. The present Moving Average for the last 50 days of trading for this stock 5.84, while it was recorded at 5.86 for the last single week of trading, and 7.68 for the last 200 days.
Polestar Automotive Holding UK PLC [PSNY]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Polestar Automotive Holding UK PLC [PSNY] shares currently have an operating margin of -70.88 and a Gross Margin at -13.78. Polestar Automotive Holding UK PLC’s Net Margin is presently recorded at -75.34.
Return on Equity for this stock declined to -1,644.90, with Return on Assets sitting at -60.88.
Polestar Automotive Holding UK PLC’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.50.
An analysis of insider ownership at Polestar Automotive Holding UK PLC [PSNY]
There are presently around $174 million, or 6.10% of PSNY stock, in the hands of institutional investors. The top three institutional holders of PSNY stocks are: AMF TJANSTEPENSION AB with ownership of 4,400,440, which is approximately 0% of the company’s market cap and around 51.45% of the total institutional ownership; BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., holding 4,349,557 shares of the stock with an approximate value of $27.27 million in PSNY stocks shares; and SABA CAPITAL MANAGEMENT, L.P., currently with $26.65 million in PSNY stock with ownership of nearly 33.263% of the company’s market capitalization.
Positions in Polestar Automotive Holding UK PLC stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 49 institutional holders increased their position in Polestar Automotive Holding UK PLC [NASDAQ:PSNY] by around 8,267,541 shares. Additionally, 24 investors decreased positions by around 4,180,260 shares, while 15 investors held positions by with 15,273,846 shares. The mentioned changes placed institutional holdings at 27,721,647 shares, according to the latest SEC report filing. PSNY stock had 28 new institutional investments in for a total of 4,408,773 shares, while 15 institutional investors sold positions of 837,548 shares during the same period.