Invesco Capital Management LLC recently announced the acquisition of new stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNY). The institutional investor has increased its shareholding in the Consumer Cyclical company by 3.94% to 2.74 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 0.59% valued currently at $10.5 million. In addition, Healthcare of Ontario Pension Pla raised its holdings by 0.21 million to 0.44 million shares.
With over 3.27 million Polestar Automotive Holding UK PLC (PSNY) shares trading Friday and a closing price of $3.27 on the day, the dollar volume was approximately $10.69 million. The shares have shown a negative half year performance of -43.91% and its price on 05/19/23 lost nearly -2.97%. Currently, there are 2.11B common shares owned by the public and among those 463.00M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for PSNY have a consensus price objective of $5.50. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $4.00. The average price target is 40.55% above its recent price level and an upside to the estimated low will see the stock gain 18.25% over that period. But an upside of 53.29% will see the stock hit the forecast high price target while median target price for the stock is $5.50.
The top 3 mutual fund holders in Polestar Automotive Holding UK PLC are Invesco WilderHill Clean Energy E, BNP Paribas Funds – Energy Transi, and iShares Tr. – Self-Driving EV & T. Invesco WilderHill Clean Energy E owns 2.64 million shares of the company’s stock, all valued at over $10.11 million. iShares Tr. – Self-Driving EV & T now owns shares totaling to 0.11% of the shares outstanding.
The company’s stock has a 5-day price change of -1.21% and -39.22% over the past three months. PSNY shares are trading -38.42% year to date (YTD), with the 12-month market performance down to -67.97% lower. It has a 12-month low price of $3.14 and touched a high of $13.36 over the same period. PSNY has an average intraday trading volume of 3.09 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 -10.11%, -11.56%, and -40.73% respectively.
Institutional ownership of Polestar Automotive Holding UK PLC (NASDAQ: PSNY) shares accounts for 6.10% of the company’s 2.11B shares outstanding. Mutual fund holders own 1.38%, while other institutional holders and individual stakeholders account for 2.31% and — respectively.
It has a market capitalization of $7.11B. The earnings-per-share (ttm) stands at -$0.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.82% over the week and 5.60% over the month.
Analysts forecast that Polestar Automotive Holding UK PLC (PSNY) will achieve an EPS of -$0.13 for the current quarter, -$0.15 for the next quarter and -$0.55 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of -$0.12. Earnings per share for the fiscal year are expected to increase by 51.90%, and -5.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Polestar Automotive Holding UK PLC (PSNY) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 1 rated it as a “Sell.”
