Short Interest in Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) Expands By 1,041.1%

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 33,913 shares, an increase of 1,041.1% from the July 15th total of 2,972 shares. Based on an average daily trading volume, of 311,261 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of Polestar Automotive Holding UK

A hedge fund recently bought a new stake in Polestar Automotive Holding UK stock. Boothbay Fund Management LLC bought a new position in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 80,000 shares of the company’s stock, valued at approximately $510,000.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Polestar Automotive Holding UK from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Polestar Automotive Holding UK Price Performance

Shares of Polestar Automotive Holding UK stock traded up $0.04 during trading hours on Thursday, reaching $2.71. 24,580 shares of the company’s stock were exchanged, compared to its average volume of 35,761. The business has a fifty day moving average of $2.58 and a two-hundred day moving average of $3.19. Polestar Automotive Holding UK has a 1 year low of $2.10 and a 1 year high of $24.00.

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.