Short Interest in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Declines By 95.8%

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 1,683,695 shares, a decrease of 95.8% from the November 30th total of 40,281,780 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 422,988 shares, the days-to-cover ratio is currently 4.0 days. Based on an average daily trading volume, of 422,988 shares, the days-to-cover ratio is currently 4.0 days. Approximately 2.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

PSNY has been the subject of a number of research reports. Cantor Fitzgerald reissued a “neutral” rating on shares of Polestar Automotive Holding UK in a research report on Thursday, September 4th. Wall Street Zen lowered Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Zacks Research lowered Polestar Automotive Holding UK from a “hold” rating to a “strong sell” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research note on Monday. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Trading of Polestar Automotive Holding UK

Several institutional investors and hedge funds have recently bought and sold shares of PSNY. UBS Group AG boosted its holdings in Polestar Automotive Holding UK by 22.6% in the 3rd quarter. UBS Group AG now owns 2,409,258 shares of the company’s stock valued at $2,265,000 after purchasing an additional 443,359 shares during the period. Deutsche Bank AG boosted its stake in Polestar Automotive Holding UK by 22.5% during the first quarter. Deutsche Bank AG now owns 794,873 shares of the company’s stock valued at $835,000 after buying an additional 146,107 shares during the period. Goldman Sachs Group Inc. grew its position in Polestar Automotive Holding UK by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock worth $555,000 after buying an additional 57,717 shares in the last quarter. California State Teachers Retirement System increased its stake in Polestar Automotive Holding UK by 18.6% in the 2nd quarter. California State Teachers Retirement System now owns 458,629 shares of the company’s stock worth $491,000 after acquiring an additional 72,023 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Polestar Automotive Holding UK by 61.2% in the 1st quarter. Advisors Asset Management Inc. now owns 449,227 shares of the company’s stock worth $472,000 after acquiring an additional 170,563 shares during the last quarter. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Stock Performance

NASDAQ PSNY traded up $1.98 during trading hours on Wednesday, hitting $17.11. The company had a trading volume of 324,983 shares, compared to its average volume of 334,314. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -0.88 and a beta of 1.37. Polestar Automotive Holding UK has a 52 week low of $11.75 and a 52 week high of $42.60. The firm has a 50 day simple moving average of $19.46 and a 200 day simple moving average of $27.38.

Polestar Automotive Holding UK shares are going to reverse split on the morning of Tuesday, December 30th. The 1-30 reverse split was announced on Monday, November 17th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 29th.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.