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

Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) was the target of a significant increase in short interest in February. As of February 27th, there was short interest totaling 7,412 shares, an increase of 20.0% from the February 12th total of 6,176 shares. Based on an average trading volume of 5,312 shares, the days-to-cover ratio is presently 1.4 days. Based on an average trading volume of 5,312 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Investors Weigh In On Polestar Automotive Holding UK

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

Polestar Automotive Holding UK Stock Up 2.3%

Shares of PSNYW traded up $0.10 during trading hours on Tuesday, hitting $4.30. 1,139 shares of the stock were exchanged, compared to its average volume of 8,695. Polestar Automotive Holding UK has a 12-month low of $2.33 and a 12-month high of $24.00. The stock’s 50-day moving average price is $3.44 and its two-hundred day moving average price is $5.99.

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.