Stocks of Polestar Automotive Holding UK PLC (PSNY) are poised to climb above their peers

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) stock jumped 0.30% on Thursday to $3.30 against a previous-day closing price of $3.29. With 1.3 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.12 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $3.3400 whereas the lowest price it dropped to was $3.2403. The 52-week range on PSNY shows that it touched its highest point at $13.36 and its lowest point at $3.14 during that stretch. It currently has a 1-year price target of $5.50.

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 -2.08%, but this was down by -2.94% over a month. Three-month performance dropped to -32.79% while six-month performance fell -57.80%. The stock lost -67.58% in the past year, while it has lost -37.85% so far this year. A look at the trailing 12-month EPS for PSNY yields -0.24 with Next year EPS estimates of -0.55. For the next quarter, that number is -0.13. This implies an EPS growth rate of 51.90% for this year and -5.80% for next year.

Float and Shares Shorts:

At present, 2.11 billion PSNY shares are outstanding with a float of 463.00 million shares on hand for trading. On Apr 27, 2023, short shares totaled 9.86 million, which was 0.46% higher than short shares on Mar 30, 2023. In addition to Mr. Thomas Ingenlath as the firm’s CEO & Director, Mr. Johan L. Malmqvist serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 5.45% of PSNY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 2.38% of PSNY, in contrast to 1.39% 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, Invesco Capital Management LLC, holds 2,741,416 shares, controlling over 0.59% of the firm’s shares. Saba Capital Management LP is the third largest shareholder in PSNY, holding 2,316,830 shares or 0.50% stake. With a 0.56% stake in PSNY, the Invesco WilderHill Clean Energy E is the largest stakeholder. A total of 2,639,275 shares are owned by the mutual fund manager. The BNP Paribas Funds – Energy Transi, which owns about 0.41% of PSNY stock, is the second-largest Mutual Fund holder. It holds 1,925,193 shares valued at 7.37 million. iShares Tr. – Self-Driving EV & T holds 0.11% of the stake in PSNY, owning 494,634 shares worth 1.89 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, PSNY reported revenue of $589.07M and operating income of -$254.95M. The EBITDA in the recently reported quarter was -$226.18M and diluted EPS was -$0.13.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PSNY since 0 analysts follow the stock currently. 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 $7.00 and a low target of $4.00, the average target price over the next 12 months is $5.50. Based on these targets, PSNY could surge 112.12% to reach the target high and rise by 21.21% to reach the target low. Reaching the average price target will result in a growth of 66.67% 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.