Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) Short Interest Up 211.7% in August

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) was the target of a significant 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 trading volume, of 958,032 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

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

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 purchased a new stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 80,000 shares of the company’s stock, valued at approximately $510,000.

Polestar Automotive Holding UK Stock Down 2.4%

Polestar Automotive Holding UK stock traded down $0.10 during midday trading on Friday, hitting $4.04. The stock had a trading volume of 15,717 shares, compared to its average volume of 103,892. Polestar Automotive Holding UK has a 12 month low of $2.10 and a 12 month high of $14.49. The business has a fifty day moving average price of $3.29 and a 200 day moving average price of $3.39.

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.