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

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 4,758 shares, a drop of 92.0% from the November 30th total of 59,118 shares. Based on an average trading volume of 33,150 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 33,150 shares, the days-to-cover ratio is presently 0.1 days.

Polestar Automotive Holding UK Stock Performance

Shares of PSNYW traded down $0.08 during mid-day trading on Thursday, hitting $6.32. 27,672 shares of the company traded hands, compared to its average volume of 50,823. The business has a 50 day moving average of $6.69 and a 200 day moving average of $6.39. Polestar Automotive Holding UK has a 1-year low of $3.01 and a 1-year high of $24.00.

Wall Street Analyst Weigh In

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

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.