Polestar Automotive Holding UK PLC (NASDAQ: PSNY) stock jumped 3.21% on Monday to $5.78 against a previous-day closing price of $5.60. With 2.57 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.78 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $5.80 whereas the lowest price it dropped to was $5.59. The 52-week range on PSNY shows that it touched its highest point at $13.36 and its lowest point at $4.00 during that stretch. It currently has a 1-year price target of $10.50.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PSNY was down-trending over the past week, with a drop of -2.86%, but this was up by 23.77% over a month. Three-month performance surged to 33.18% while six-month performance fell -35.13%. The stock lost -47.50% in the past year, while it has gained 8.85% so far this year.
Float and Shares Shorts:
At present, 2.11 billion PSNY shares are outstanding with a float of 111.92 million shares on hand for trading. On Oct 13, 2022, short shares totaled 9.76 million, which was 0.46% higher than short shares on Sep 14, 2022. In addition to Mr. Thomas Ingenlath as the firm’s CEO & Director, Mr. Johan L. Malmqvist serves as its Chief Financial Officer.
Through their ownership of 5.71% of PSNY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.08% of PSNY, in contrast to 2.88% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in PSNY with 0.94% of the stake, AMF Fonder AB holds 4,400,440 shares worth 4,400,440. A second-largest stockholder of PSNY, BNP Paribas Asset Management UK L, holds 4,349,557 shares, controlling over 0.93% of the firm’s shares. Saba Capital Management LP is the third largest shareholder in PSNY, holding 4,250,267 shares or 0.91% stake. With a 1.68% stake in PSNY, the BNP Paribas Funds – Energy Transi is the largest stakeholder. A total of 7,839,028 shares are owned by the mutual fund manager. The Invesco WilderHill Clean Energy E, which owns about 0.48% of PSNY stock, is the second-largest Mutual Fund holder. It holds 2,256,066 shares valued at 11.98 million. Fidelity Nasdaq Composite Index F holds 0.26% of the stake in PSNY, owning 1,216,768 shares worth 6.46 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PSNY since 3 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PSNY analysts setting a high price target of $12.00 and a low target of $9.00, the average target price over the next 12 months is $10.50. Based on these targets, PSNY could surge 107.61% to reach the target high and rise by 55.71% to reach the target low. Reaching the average price target will result in a growth of 81.66% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. Analysts have provided yearly estimates in a range of -$0.22 being high and -$0.58 being low. For PSNY, this leads to a yearly average estimate of -$0.44. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Polestar Automotive Holding UK PLC surprised analysts by $0.00 when it reported -$0.14 EPS against a consensus estimate of -$0.14. Based on analyst estimates, the high estimate for the next quarter is -$0.15 and the low estimate is -$0.15. The average estimate for the next quarter is thus -$0.15.