Polestar Automotive Holding UK PLC ADR (NASDAQ:PSNY) price on Wednesday, May 21, fall -4.20% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.14.
A look at the stock’s price movement, the close in the last trading session was $1.19. Turning to its 52-week performance, $1.94 and $0.61 were the 52-week high and 52-week low respectively. Overall, PSNY moved 14.00% over the past month.
Polestar Automotive Holding UK PLC ADR’s market cap currently stands at around $2.35 billion, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 730.29M for the company’s revenue for the quarter, with a low and high estimate of 730.29M and 730.29M respectively. The average forecast suggests up to a 27.03% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 3.16B, representing a 55.31% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PSNY is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 1 recommend PSNY as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PSNY’s current price about 4.28% and 7.12% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.62, while 7-day volatility ratio is 6.92% and 5.88% in the 30-day chart. Further, Polestar Automotive Holding UK PLC ADR (PSNY) has a beta value of 1.48, and an average true range (ATR) of 0.07. Analysts have given the company’s stock an average 52-week price target of $3, forecast between a low of $1.5 and high of $10. Looking at the price targets, the low is -31.58% off current price level while to achieve the yearly target high, price needs to move -777.19%. Nonetheless, investors will most likely welcome a -163.16% jump to $3 which is the analysts’ median price.
If we refocus on Polestar Automotive Holding UK PLC ADR (NASDAQ:PSNY), historical trading data shows that trading volumes averaged 4.36 million over the past 3 months. The company’s latest data on shares outstanding shows there are 2.06 billion shares.
The 0.06% of Polestar Automotive Holding UK PLC ADR’s shares are in the hands of company insiders while institutional holders own 3.50% of the company’s shares. Current price change has pushed the stock 8.57% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PSNY stock continues to rise going into the next quarter.
