Too many messages about shorts on this board. Sorry if I'm rude. Some people think in the "it's me versus them" mentality. There are no "thems" in PRAN. There are traders. There are sellers. 3.83% short..that's probably somebody hedging an option or trying to turn short term into long term. It is HARD to short PRAN. Short sellers are normally smarter than "buy only" traders. And to be short a stock with as much upside potential is not smart. OK, I'll quit preaching and try to cover my short (in TSLA!!!).
Maybe not a lot of retail shorts in PRAN as you say, but by default, a market maker is short Pran in an effort to fill an order and provide liquidity. If they do not fill the order, they are not the first route choice the next time a buy comes in from a customer, and they lose out on fees, business, trading etc., they will then buy to cover when the heat is off. So when this early morning heat came on they accomodated, and then the mid morning lull they covered at a profit. The trick is to not get caught by anybody really big on the long side and live to make the market another day, but what more likely happened this morning/the alternative is if you have a big buyer and you are a MM you find available shares for them by taking out limit orders and move the price accordingly till you fill the client's request, which is more likely an explanation for the quick move this morning.