Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) Short Interest Update

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 33,913 shares, a growth of 1,041.1% from the July 15th total of 2,972 shares. Based on an average daily volume of 311,261 shares, the days-to-cover ratio is currently 0.1 days.

Polestar Automotive Holding UK Stock Performance

Shares of Polestar Automotive Holding UK stock traded down $0.08 during midday trading on Wednesday, hitting $2.72. The company had a trading volume of 16,408 shares, compared to its average volume of 35,706. The company has a fifty day simple moving average of $2.59 and a 200 day simple moving average of $3.20. Polestar Automotive Holding UK has a 12-month low of $2.10 and a 12-month high of $24.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Polestar Automotive Holding UK from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Polestar Automotive Holding UK stock. Boothbay Fund Management LLC acquired a new stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 80,000 shares of the company’s stock, valued at approximately $510,000.

Polestar Automotive Holding UK Company Profile

Polestar Automotive Holding UK plc is a special-purpose acquisition company (SPAC) incorporated in the United Kingdom with the primary objective of effecting a business combination, share exchange, asset acquisition or similar merger transaction with one or more businesses in the automotive sector. The company’s management team, supported by affiliates of The Gores Group and Guggenheim Partners, completed its initial public offering in mid-2021 and its units trade on the Nasdaq under the symbol PSNYW.

The SPAC was specifically formed to combine with Polestar Performance AB, the electric performance carmaker backed by Volvo Cars and Zhejiang Geely Holding Group.