Pegasus Digital Mobility Acquisition Corp. (NYSE:PGSS) Sees Significant Growth in Short Interest

Pegasus Digital Mobility Acquisition Corp. (NYSE:PGSS – Get Rating) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 6,700 shares, an increase of 415.4% from the June 30th total of 1,300 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 15,300 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of Pegasus Digital Mobility Acquisition

An institutional investor recently bought a new position in Pegasus Digital Mobility Acquisition stock. Starboard Value LP bought a new stake in Pegasus Digital Mobility Acquisition Corp. (NYSE:PGSS – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 288,600 shares of the company’s stock, valued at approximately $2,831,000. Starboard Value LP owned 1.02% of Pegasus Digital Mobility Acquisition as of its most recent SEC filing. 43.33% of the stock is currently owned by hedge funds and other institutional investors.

Pegasus Digital Mobility Acquisition Price Performance

NYSE:PGSS opened at $9.97 on Friday. The stock has a 50-day simple moving average of $9.94 and a 200-day simple moving average of $9.90. Pegasus Digital Mobility Acquisition has a 1 year low of $9.70 and a 1 year high of $10.17.

Pegasus Digital Mobility Acquisition Company Profile

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Pegasus Digital Mobility Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to identify business opportunities in the field of the transportation sector.