Polestar Automotive Holding UK PLC ADR (NASDAQ:PSNY) shares, rose in value, with the stock price down by -6.59% to the previous day’s close as strong demand from buyers drove the stock to $1.56.
Actively observing the price movement in the last trading, the stock closed the session at $1.67. Referring to stock’s 52-week performance, its high was $4.96, and the low was $1.30. On the whole, PSNY has fluctuated by -6.59% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.15, which is expected to increase to -$0.11 for fiscal year -$0.35 and then to about -$0.45 by fiscal year 2024. Data indicates that the EPS growth is expected to be -52.20% in 2024, while the next year’s EPS growth is forecast to be -28.60%.
Analysts have estimated the company’s revenue for the quarter at $816.68 million, with a low estimate of $792.35 million and a high estimate of $846.7 million. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $2.57 billion, representing an increase of 4.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PSNY’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PSNY currently trading nearly -7.45% and -15.77% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.03, while the 7-day volatility ratio is showing 7.67% which for the 30-day chart, stands at 9.40%. Furthermore, Polestar Automotive Holding UK PLC ADR (PSNY)’s beta value is 1.59, and its average true range (ATR) is 0.16.
A comparison of Polestar Automotive Holding UK PLC ADR (PSNY) with its peers suggests the former has fared considerably weaker in the market. PSNY showed an intraday change of -6.59% in last session, and over the past year, it shrunk by -60.80%%.
Data on historical trading for Polestar Automotive Holding UK PLC ADR (NASDAQ:PSNY) indicates that the trading volumes over the past 10 days have averaged 2.51 million and over the past 3 months, they’ve averaged 3.51 million. According to company’s latest data on outstanding shares, there are 467.68 million shares outstanding.
Nearly 0.06% of Polestar Automotive Holding UK PLC ADR’s shares belong to company insiders and institutional investors own 4.77% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 24.76 million shares as on Feb 29, 2024, resulting in a short ratio of 6.5. According to the data, the short interest in Polestar Automotive Holding UK PLC ADR (PSNY) stood at 1.27% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 22.51 million. The stock has fallen by -30.97% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PSNY stock heading into the next quarter.
