Polestar Automotive Holding UK PLC (NASDAQ:PSNY) marked $3.76 per share on Monday, down from a previous closing price of $3.79. While Polestar Automotive Holding UK PLC has underperformed by -0.79%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PSNY fell by -66.93%, with highs and lows ranging from $13.36 to $3.14, whereas the simple moving average fell by -42.36% in the last 200 days.
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On February 15, 2023, Barclays started tracking Polestar Automotive Holding UK PLC (NASDAQ: PSNY) recommending Equal Weight. Deutsche Bank Initiated an Hold rating on August 01, 2022, and assigned a price target of $10.
Analysis of Polestar Automotive Holding UK PLC (PSNY)
Further, the quarter-over-quarter increase in sales is 104.50%, showing a positive trend in the upcoming months.
An average volume of 2.82M can be a very valuable indicator of volatility for PSNY stock. On a monthly basis, the volatility of the stock is set at 6.81%, whereas on a weekly basis, it is put at 6.37%, with a gain of 15.69% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.00, showing growth from the present price of $3.76, which can serve as yet another indication of whether PSNY is worth investing in or should be passed over.
How Do You Analyze Polestar Automotive Holding UK PLC Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 51.45%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 6.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PSNY shares?
The recent increase in stakes in PSNY appears to be a result of several institutional investors and hedge funds increasing their positions. BNP Paribas Asset Management UK L’s position in PSNY has increased by 38.82% in the first quarter. The company now owns 6,037,897 shares of the stock, with a value of $32.12 million, following the purchase of 1,688,340 additional shares during the last quarter. During the last quarter, the company dropped down 0 additional shares for a total stake of worth $23.41 million, bringing number of shares owned by the company to 4,400,440.
During the first quarter, Saba Capital Management LP subtracted a -1,305,489 position in PSNY. Invesco Capital Management LLC purchased an additional 0.44 million shares in the last quarter, increasing its holdings by 19.84%, now holding 2.64 million shares worth $14.03 million. At the end of the first quarter, Elliott Investment Management LP decreased its PSNY holdings by -20.74% and now holds 1.24 million PSNY shares valued at $6.61 million with the lessened -0.33 million shares during the period. PSNY shares are owned by institutional investors to the tune of 6.10% at present.
