In 2024, Will Polestar Automotive Holding UK PLC ADR (NASDAQ: PSNY) Be Bullish Or Bearish?

Polestar Automotive Holding UK PLC ADR (NASDAQ:PSNY) shares, rose in value on Thursday, April 04, without any change to the previous day’s close as strong demand from buyers drove the stock to $1.57.

Actively observing the price movement in the recent trading, the stock is buoying the session at $1.57. 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 -8.19% over the past month.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

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 -$0.36 and then to about -$0.48 by fiscal year 2024. Data indicates that the EPS growth is expected to be -56.50% in 2024, while the next year’s EPS growth is forecast to be -33.30%.

Analysts have estimated the company’s revenue for the quarter at $759.26 million, with a low estimate of $613 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 $2.58 billion, representing an increase of 4.60% 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 -3.12% and -9.84% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.31, while the 7-day volatility ratio is showing 5.75% which for the 30-day chart, stands at 6.71%. Furthermore, Polestar Automotive Holding UK PLC ADR (PSNY)’s beta value is 1.51, and its average true range (ATR) is 0.12.

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 0.00% in today’s session so far, and over the past year, it shrunk by -58.24%%.

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 1.61 million and over the past 3 months, they’ve averaged 3.25 million. According to company’s latest data on outstanding shares, there are 467.95 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 25.21 million shares as on Mar 15, 2024, resulting in a short ratio of 6.38. According to the data, the short interest in Polestar Automotive Holding UK PLC ADR (PSNY) stood at 1.19% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 24.76 million. The stock has fallen by -30.53% 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.