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

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 2,053 shares, a drop of 45.0% from the May 31st total of 3,731 shares. Based on an average trading volume of 9,062 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings cut 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 company presently has an average rating of “Sell”.

Polestar Automotive Holding UK Stock Performance

NASDAQ PSNYW traded down $0.15 during trading hours on Thursday, reaching $2.26. 1,525 shares of the company were exchanged, compared to its average volume of 7,716. Polestar Automotive Holding UK has a 1 year low of $2.10 and a 1 year high of $24.00. The business’s 50 day simple moving average is $2.94 and its 200-day simple moving average is $3.71.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A hedge fund recently bought a new stake in Polestar Automotive Holding UK stock. Boothbay Fund Management LLC acquired a new stake in Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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.