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Polestar Automotive Holding UK PLC (NASDAQ: PSNY) Stock Dropped -2.94% Over A Month – Are There Any Chances Of Growth?

During the last session, Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s traded shares were 1.3 million. At the end of the trading day, the stock’s price was $3.30, reflecting an intraday gain of 0.30% or $0.01. The 52-week high for the PSNY share is $13.36, that puts it down -304.85 from that peak though still a striking 4.85% gain since the share price plummeted to a 52-week low of $3.14. The company’s market capitalization is $7.18B, and the average intraday trading volume over the past 10 days was 2.17 million shares, and the average trade volume was 3.12 million shares over the past three months.

Polestar Automotive Holding UK PLC (PSNY) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.50. PSNY has a Sell rating from 1 analyst(s) out of 5 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.12.

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Polestar Automotive Holding UK PLC (NASDAQ:PSNY) trade information

Polestar Automotive Holding UK PLC (PSNY) registered a 0.30% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 0.30% in intraday trading to $3.30 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -2.08%, and it has moved by -2.94% in 30 days. Based on these gigs, the overall price performance for the year is -67.58%. The short interest in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is 9.86 million shares and it means that shorts have 3.54 day(s) to cover.

The consensus price target of analysts on Wall Street is $5.50, which implies an increase of 40.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $4.00 and $7.00 respectively. As a result, PSNY is trading at a discount of -112.12% off the target high and -21.21% off the low.

Polestar Automotive Holding UK PLC (PSNY) estimates and forecasts

Statistics show that Polestar Automotive Holding UK PLC has underperformed its competitors in share price, compared to the industry in which it operates. Polestar Automotive Holding UK PLC (PSNY) shares have gone down -57.80% during the last six months, with a year-to-date growth rate less than the industry average at -117.39% against 6.40. In the rating firms’ projections, revenue will increase 22.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $612.4 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $801 million by the end of Sep 2023.

While earnings are projected to return 51.90% in 2023, the next five years will return -13.54% per annum.

PSNY Dividends

Polestar Automotive Holding UK PLC is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s Major holders

Polestar Automotive Holding UK PLC insiders own 47.97% of total outstanding shares while institutional holders control 5.45%, with the float percentage being 10.48%. AMF Tjanstepension AB is the largest shareholder of the company, while 95 institutions own stock in it. As of Mar 30, 2023, the company held over 4.4 million shares (or 0.94% of all shares), a total value of $16.68 million in shares.

The next largest institutional holding, with 2.74 million shares, is of Invesco Ltd.’s that is approximately 0.59% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $10.39 million.

Also, the Mutual Funds coming in first place with the largest holdings of Polestar Automotive Holding UK PLC (PSNY) shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and iShares Self-Driving EV and Tech ETF. Data provided on Mar 30, 2023 indicates that Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF owns about 2.74 million shares. This amounts to just over 0.59 percent of the company’s overall shares, with a $10.39 million market value. The same data shows that the other fund manager holds slightly less at 0.49 million, or about 0.11% of the stock, which is worth about $2.63 million.

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