Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) Sees Large Decline in Short Interest

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) saw a significant drop in short interest in October. As of October 15th, there was short interest totaling 20,171 shares, a drop of 34.9% from the September 30th total of 30,971 shares. Based on an average trading volume of 8,790 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Investors Weigh In On Polestar Automotive Holding UK

A hedge fund recently bought a new stake in Polestar Automotive Holding UK stock. GAMMA Investing LLC bought a new stake in shares of Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,418 shares of the company’s stock, valued at approximately $32,000.

Polestar Automotive Holding UK Stock Up 0.3%

Shares of NASDAQ PSNYW opened at $3.06 on Monday. Polestar Automotive Holding UK has a 1 year low of $2.10 and a 1 year high of $9.07. The stock’s 50-day simple moving average is $4.15 and its 200-day simple moving average is $3.44.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 21st. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has an average rating of “Sell”.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC is an electric vehicle company that develops, manufactures, and sells premium battery-powered cars. The company operates under the Polestar brand and focuses on combining Scandinavian design, advanced technology, and sustainability in its vehicles and related services.

Polestar’s product lineup has included the Polestar 2 fastback, the Polestar 3 electric SUV, and the Polestar 4 electric performance SUV coupe. The company is also developing additional models, including the Polestar 5 four-door electric grand tourer and Polestar 6 electric roadster.