In the latest trading session, 0.55 million Polestar Automotive Holding UK PLC ADR (NASDAQ:PSNY) shares changed hands as the company’s beta touched 1.61. With the company’s most recent per share price at $2.15 changing hands around $0.07 or 3.37% at last look, the market valuation stands at $1.01B. PSNY’s current price is a discount, trading about -283.72% off its 52-week high of $8.25. The share price had its 52-week low at $1.98, which suggests the last value was 7.91% up since then. When we look at Polestar Automotive Holding UK PLC ADR’s average trading volume, we note the 10-day average is 2.74 million shares, with the 3-month average coming to 3.60 million.
Analysts gave the Polestar Automotive Holding UK PLC ADR (PSNY) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.67. If we narrow down to specifics, the data shows that 2 out of 9 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 3 recommended PSNY as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Polestar Automotive Holding UK PLC ADR’s EPS for the current quarter is expected to be -$0.16.
Polestar Automotive Holding UK PLC ADR (NASDAQ:PSNY) trade information
Instantly PSNY is in green as seen in intraday trades today. With action 3.86%, the performance over the past five days has been green. The jump to weekly highs of 2.31 on Friday, 11/17/23 added 3.37% to the stock’s daily price. The company’s shares are showing year-to-date downside of -59.51%, with the 5-day performance at 3.86% in the green. However, in the 30-day time frame, Polestar Automotive Holding UK PLC ADR (NASDAQ:PSNY) is -8.51% down. Looking at the short shares, we see there were 20.39 million shares sold at short interest cover period of 7.52 days.
The consensus price target for the stock as assigned by Wall Street analysts is $4.26, meaning bulls need an upside of 49.53% from its recent market value. According to analyst projections, PSNY’s forecast low is $1.60 with $9.00 as the target high. To hit the forecast high, the stock’s price needs a -318.6% plunge from its current level, while the stock would need to tank 25.58% for it to hit the projected low.
Polestar Automotive Holding UK PLC ADR (PSNY) estimates and forecasts
Data shows that the Polestar Automotive Holding UK PLC ADR share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -37.32% over the past 6 months, a -65.22% in annual growth rate that is considerably lower than the industry average of -2.10%. Year-over-year growth is forecast to reach 10.60% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $821.23 million. 3 analysts are of the opinion that Polestar Automotive Holding UK PLC ADR’s revenue for the quarter ending Mar 2024 will be $696.9 million. The estimates for the next quarter sales put growth at 27.60%.
The 2023 estimates are for Polestar Automotive Holding UK PLC ADR earnings to increase by 9.79%, but the outlook for the next 5-year period is at -13.54% per year.
Polestar Automotive Holding UK PLC ADR is expected to release its next quarterly earnings report in December.
Polestar Automotive Holding UK PLC ADR (NASDAQ:PSNY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 47.31% of Polestar Automotive Holding UK PLC ADR shares while 3.99% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 7.58%. There are 3.99% institutions holding the Polestar Automotive Holding UK PLC ADR stock share, with AMF Tjanstepension AB the top institutional holder. As of Jun 29, 2023, the company held 0.94% of the shares, roughly 4.4 million PSNY shares worth $16.81 million.
Invesco Ltd. holds the second largest percentage of outstanding shares, with 0.55% or 2.56 million shares worth $9.78 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and iShares Self-Driving EV and Tech ETF. With 2.39 million shares estimated at $7.96 million under it, the former controlled 0.51% of total outstanding shares. On the other hand, iShares Self-Driving EV and Tech ETF held about 0.26% of the shares, roughly 1.21 million shares worth around $4.03 million.