Short Interest in Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) Decreases By 18.6%

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 4,506 shares, a decline of 18.6% from the December 31st total of 5,538 shares. Based on an average daily trading volume, of 11,858 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 11,858 shares, the days-to-cover ratio is currently 0.4 days.

Polestar Automotive Holding UK Stock Performance

Shares of NASDAQ PSNYW traded up $0.16 during mid-day trading on Wednesday, reaching $2.91. The company’s stock had a trading volume of 6,001 shares, compared to its average volume of 10,909. Polestar Automotive Holding UK has a 52 week low of $2.33 and a 52 week high of $24.00. The stock has a fifty day moving average of $4.93 and a two-hundred day moving average of $6.36.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Polestar Automotive Holding UK in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Polestar Automotive Holding UK presently has a consensus rating of “Sell”.

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.