Short Interest in Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Rises By 33.5%

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 2,247,372 shares, an increase of 33.5% from the December 15th total of 1,683,695 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 297,546 shares, the days-to-cover ratio is currently 7.6 days. Based on an average daily trading volume, of 297,546 shares, the days-to-cover ratio is currently 7.6 days. Approximately 3.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSNY. Weiss Ratings reiterated a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday, December 29th. Wall Street Zen lowered Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th. Finally, Zacks Research upgraded Polestar Automotive Holding UK from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Polestar Automotive Holding UK presently has an average rating of “Reduce”.

Institutional Investors Weigh In On Polestar Automotive Holding UK

Several large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in shares of Polestar Automotive Holding UK by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 528,893 shares of the company’s stock valued at $555,000 after acquiring an additional 57,717 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Polestar Automotive Holding UK in the first quarter worth approximately $62,000. Russell Investments Group Ltd. increased its position in shares of Polestar Automotive Holding UK by 45.0% during the second quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock worth $51,000 after purchasing an additional 14,877 shares in the last quarter. Quadrature Capital Ltd raised its stake in Polestar Automotive Holding UK by 224.7% in the 2nd quarter. Quadrature Capital Ltd now owns 241,593 shares of the company’s stock valued at $260,000 after purchasing an additional 167,196 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its stake in Polestar Automotive Holding UK by 26.7% during the 2nd quarter. Cresset Asset Management LLC now owns 83,504 shares of the company’s stock worth $89,000 after purchasing an additional 17,590 shares during the last quarter. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Polestar Automotive Holding UK Stock Down 0.5%

Shares of NASDAQ PSNY traded down $0.11 during trading on Friday, hitting $22.24. The company had a trading volume of 197,799 shares, compared to its average volume of 222,951. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -1.14 and a beta of 1.34. The stock has a fifty day simple moving average of $365.95 and a two-hundred day simple moving average of $717.54. Polestar Automotive Holding UK has a fifty-two week low of $11.75 and a fifty-two week high of $42.60.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.