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

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 87,817 shares, a growth of 211.7% from the August 15th total of 28,173 shares. Based on an average daily volume of 958,032 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a report on Monday, August 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Polestar Automotive Holding UK Stock Up 0.5%

Shares of Polestar Automotive Holding UK stock traded up $0.02 during trading on Monday, hitting $4.06. The company’s stock had a trading volume of 5,203 shares, compared to its average volume of 103,313. The company has a fifty day simple moving average of $3.29 and a two-hundred day simple moving average of $3.40. Polestar Automotive Holding UK has a 52 week low of $2.10 and a 52 week high of $14.49.

About Polestar Automotive Holding UK

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.