Streetbeat News

PSNY

Polestar Automotive Holding UK PLC

https://www.polestar.com

Industry

Auto - Manufacturers

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.

Open

1.20

Mkt cap

2.9B

Volume

4.5M

High

1.30

P/E Ratio

-1.92

52-wk high

2.65

Low

1.20

Div yield

N/A

52-wk low

0.61

Polestar has started deliveries of the upgraded Polestar 2, marking a production milestone of 150,000 cars since 2020. The company has seen significant growth, particularly in the UK where it has been the fastest growing car brand in the first seven months of 2023. The upgraded Polestar 2 features improved software, better quality, longer range, and faster charging.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 1:16 pm

Shares of EV stocks are trading lower following a downgrade of the US credit rating, which has led to a selloff in the growth sector. The stocks of LCID, PSNY, and RIVN are among those affected.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 11:56 am

Cantor Fitzgerald analyst Andres Sheppard has downgraded Rivian Automotive (RIVN) from Overweight to Neutral, citing increased valuation and competition in the electric pickup truck market. Sheppard also increased the price target for RIVN from $27 to $29. The analyst also shared his views on the overall electric vehicle industry, reiterating Overweight calls on Lucid Group (LCID) and Polestar Automotive (PSNY).

Portfolio Pulse from Chris Katje

August 04, 2023 | 9:40 am

RF Lafferty analyst Jamie Perez has initiated coverage on Polestar Automotive (NASDAQ:PSNY) with a Buy rating and a price target of $9.

Portfolio Pulse from richadhand@benzinga.com

August 04, 2023 | 9:13 am

Tesla is set to report its Q2 results, with analysts expecting a YoY rise in EPS from $0.76 to $0.82 and a 44.50% jump in revenue to $24.48 billion. Despite concerns over auto gross margin shrinkage due to price cuts and discounts, Gene Munster, Managing Partner at Deepwater Asset Management, is not overly concerned. He expects margins to improve in the latter half of the year and into 2024, particularly as Tesla ramps up production at Giga Austin and the 4680 battery, and lithium prices decrease. Munster also noted that traditional automakers are struggling with their EV margins, citing Ford's EV division's 40% loss and Polestar's 45% loss, compared to Tesla's 15% operating margin.

Portfolio Pulse from Shanthi Rexaline

July 19, 2023 | 6:48 am

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) showcased its Polestar 5 prototype at the Goodwood Festival of Speed. The electric 4-door grand tourer, based on the Polestar Precept concept car, can deliver up to 650 kW/884 hp. The vehicle is expected to launch officially in 2024. The company aims to have a line-up of five performance EVs by 2026.

Portfolio Pulse from Anan Ashraf

July 17, 2023 | 7:47 am

Polestar Automotive (NASDAQ:PSNY) has received somewhat bullish ratings from four analysts in the last quarter. The average 12-month price target for the company is $6.25, representing a 10.71% decrease from the previous average price target of $7.00.

Portfolio Pulse from Benzinga Insights

July 13, 2023 | 9:00 pm

Nearly 100 U.S. lawmakers have urged the Environmental Protection Agency (EPA) to finalize tougher vehicle emissions rules that would boost electric vehicle sales through 2032. This could potentially benefit electric vehicle manufacturers.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:43 pm

Cantor Fitzgerald analyst Andres Sheppard has reiterated an Overweight rating on Polestar Automotive (NASDAQ:PSNY) and maintained a $6 price target.

Portfolio Pulse from richadhand@benzinga.com

July 13, 2023 | 12:59 pm

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