Polestar Automotive Holding UK PLC (NASDAQ:PSNYW) Short Interest Down 18.6% in January
by Tristan Rich · The Markets DailyPolestar Automotive Holding UK PLC (NASDAQ:PSNYW – Get Free Report) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 4,506 shares, a drop of 18.6% from the December 31st total of 5,538 shares. Based on an average trading volume of 11,858 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 11,858 shares, the days-to-cover ratio is presently 0.4 days.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Polestar Automotive Holding UK in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.
Get Our Latest Stock Analysis on PSNYW
Polestar Automotive Holding UK Stock Performance
Shares of PSNYW stock traded up $0.19 during mid-day trading on Monday, hitting $2.79. The company’s stock had a trading volume of 8,949 shares, compared to its average volume of 11,483. The company’s fifty day simple moving average is $5.09 and its 200-day simple moving average is $6.39. Polestar Automotive Holding UK has a 52 week low of $2.33 and a 52 week high of $24.00.
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.