Polestar Automotive Holding PSNY Stock Forecast

Polestar Automotive Holding PSNY Stock Forecast: Read about the future price prediction of PSNY stock and also read ‘Will PSNY Recover’?

PSNY Stock Forecast: Latest Price

PSNY Stock Performance

1 M: -7.9%
3 M: -4.8%
1 Y: -55.2%

PSNY Stock Forecast: PSNY Target for the Next 12 Months

Target Price for the Next 12 Months	*$11*
Citigroup	*$12*
Deutsche Bank	*$10*

PSNY Stock Forecast: Factors to Consider

Growth potential: Polestar has ambitious growth plans and aims to become a major player in the luxury EV market. The company plans to launch several new models in the coming years, including an SUV and a range of electric performance cars.

Focus on sustainability: Polestar’s vehicles are designed with sustainability in mind, using eco-friendly materials and minimizing the environmental impact of production.

Strong backing: Polestar is backed by Geely Holding, one of the largest automotive companies in China. This provides the company with significant financial resources and manufacturing capabilities.

Competitive landscape: The EV market is becoming increasingly crowded, with many established automakers and new entrants vying for market share. Polestar will need to differentiate itself from competitors to succeed.

PSNY Stock Forecast: Q4 Result

(USD)	Mar-22	Y/Y
Revenue	–	–
Net income	15.17M	1208.65%
Diluted EPS	0.15	287.50%
Operating income	-1.66M	1297%
Net change in cash	47.7K	97.24%

PSNY Stock Technical Analysis

On March 2, Polestar Automotive reported its financial results for the full year ending Dec. 31, 2022. The revenue was up around 84% YOY and the reported revenue was $2.5 billion. Vehicle deliveries increased by 80%, from 28,677 to 51,491. After the result which came out better than expected and highly better than the results reported by its competitor, Lucid and Rivian, the stocks surged initially but started to retreat after that.

With higher uncertainties, the investors don’t expect PSNY to meet or beat growth expectations in the future. This has led to more negative market sentiment.

The stocks of Polestar Automotive Holdings have been falling and now the stock is below $4. To add to the trouble for the investors, the overall Market Cap of PSNY stock is now below $10 B.

Performance on the last Trading Day

Open Price: $4.18
Close Price: $3.72
Gain/Loss: -10.91%
Overall Market Cap: $7.92B

Indicators:

The PSNY stock recently fell below $4. Currently, the PSNY stock is at its all-time low price. There have been no signs of reversal and the momentum has remained highly bearish. Recently, PSNY stock after falling below $4 reversed and the stock price went above $4 once again. However, the buyers could not hold the stock price above $4 for long and PSNY was once again rejected jus below $4.20.

At the time of writing, PSNY is trading below $4. The stock has a fifty-day simple moving average of $5.37 and a 200-day simple moving average of $6.85 on the daily chart.

In the below chart, the PSNY stock is below the 50-day and the 200-day Moving averages. The stock is on a downtrend and the sellers are in full control of the market.

The stock is currently in search of support. The price of $3.5 will be the psychological support for PSNY. Breaking below it will likely give the bears an opportunity to drag the stock below $3. The first level of resistance for PSNY is $4.20.

The Relative Strength Index of PSNY is below the 14-day MA. It reversed on the last trading day and entered the oversold zone once again. the sellers have outnumbered the buyers.

Both the MACD and the Stochastic RSI are throwing a sell signal. The Stoch RSI is within the oversold territory and has fallen below the 14-day SMA while the MACD line is below the signal line. The volume bars are on the negative axis.

Overall, PSNY is bearish for the next trading day.

PSNY Stock Prediction Today

Overall Outlook	Neutral

1. Market's Wisdom	Partially Positive
1a. Market Data	Neutral
1b. Technical Recommendation	Buy

2. Crowd's Wisdom	Partially Negative
2a. Social Media Buzz	Lower
2b. Social Media Sentiment	Neutral

PSNY Stock Forecast: Is it a Buy?

Polestar 2 has a customer rating of 7.9 which is decent but not a brilliant rating. Tesla Model 3 is rated at 8.4
Polestar has done a great job on production despite many issues including COVID
First Half sales were $1 Billion and delivered a gross profit of $53 Million which is significantly lower as a % compared to the $3B on $18 that Tesla earned in Q1 this year
Polestar is currently valued at $11 billion for a likely profit of anywhere between $100 and $150 M (Extrapolating from First Half data) for the year.
Given Polestar’s size and future sales estimates, it is likely to see a 6-10 fold jump in earnings in the next 3 years.
However, there is no reliable basis to say any of these estimates will come through
This is why the new launch this week is important. A launch response and consumer experience which turns out well could boost the stock in the next few weeks.

PSNY Stock Q3 Result

Polestar recorded its first profit since going public in Q3 of 2022. Here is how Polestar performed in Quarter 3 of 2022:

Polestar reported around 9,215 deliveries in Q3 with a total of 30,424 deliveries for the year.
Polestar achieved revenue of $1.48 billion on 30,000 deliveries in the first nine months of 2022.
Polestar’s operating cost was down 33% and the profit was $299.4 million.
Polestar reported earnings per share (EPS) of $0.14, up 110.77% year over year.

PSNY Stock Forecast: Latest News

Polestar receives funding from Volvo and Li Shufu: Polestar has recently announced that its major shareholders Volvo and Li Shufu agreed to financially support Polestar. Volvo is providing an $800 million loan for 18 months with an equity conversion option. Li Shufu is also providing $800 million. PSNY also told that they are progressing towards their goal of 50K car deliveries in 2022 and planning to launch 3 new models by 2026.