Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) Sees Significant Growth in Short Interest

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 6,176 shares, a growth of 33.8% from the January 29th total of 4,616 shares. Based on an average daily volume of 4,409 shares, the short-interest ratio is presently 1.4 days. Based on an average daily volume of 4,409 shares, the short-interest ratio is presently 1.4 days.

Polestar Automotive Holding UK Stock Performance

Polestar Automotive Holding UK stock traded up $0.10 during trading on Monday, reaching $3.10. 3,081 shares of the company were exchanged, compared to its average volume of 8,369. The stock’s 50 day simple moving average is $3.96 and its two-hundred day simple moving average is $6.14. Polestar Automotive Holding UK has a 52-week low of $2.33 and a 52-week high of $24.00.

Institutional Inflows and Outflows

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

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.