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

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

Institutional Investors Weigh In On Polestar Automotive Holding UK

Large investors have recently made changes to their positions in the stock. Rathbones Group PLC raised its stake in Polestar Automotive Holding UK by 79.1% in the 3rd quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock worth $43,000 after acquiring an additional 20,000 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Polestar Automotive Holding UK by 45.0% in the second quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock valued at $51,000 after purchasing an additional 14,877 shares during the period. Captrust Financial Advisors raised its stake in shares of Polestar Automotive Holding UK by 43.2% in the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock worth $63,000 after purchasing an additional 17,700 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Polestar Automotive Holding UK in the first quarter worth about $62,000. Finally, Cresset Asset Management LLC lifted its holdings in shares of Polestar Automotive Holding UK by 26.7% during the second 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 period. 1.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PSNY shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Polestar Automotive Holding UK in a research report on Monday, December 29th. Wall Street Zen lowered shares of Polestar Automotive Holding UK from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Finally, Zacks Research raised 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. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Polestar Automotive Holding UK Stock Performance

PSNY stock traded down $0.11 during trading on Monday, reaching $22.24. The company had a trading volume of 197,799 shares, compared to its average volume of 222,951. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -1.14 and a beta of 1.34. Polestar Automotive Holding UK has a twelve month low of $11.75 and a twelve month high of $42.60. The firm has a 50-day simple moving average of $365.95 and a 200-day simple moving average of $717.54.

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.