Polar Power, Inc. (NASDAQ:POLA) Sees Significant Decrease in Short Interest

Polar Power, Inc. (NASDAQ:POLA) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 109,010 shares, a decrease of 55.0% from the September 30th total of 242,276 shares. Based on an average daily trading volume, of 121,072 shares, the short-interest ratio is currently 0.9 days. Currently, 3.1% of the shares of the company are short sold.

Polar Power Price Performance

Shares of NASDAQ:POLA traded down $0.02 during trading on Friday, hitting $0.54. The company had a trading volume of 144,699 shares, compared to its average volume of 946,436. The stock has a market cap of $2.31 million, a price-to-earnings ratio of -0.15 and a beta of 1.18. The company has a fifty day simple moving average of $1.15 and a two-hundred day simple moving average of $1.58. Polar Power has a one year low of $0.50 and a one year high of $4.34.

Polar Power (NASDAQ:POLA) last posted its quarterly earnings data on Tuesday, August 18th. The utilities provider reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.14. Polar Power had a negative net margin of 207.92% and a negative return on equity of 610.87%. The company had revenue of $1.02 million during the quarter, compared to analyst estimates of $3.80 million.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Polar Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Polar Power has an average rating of “Sell”.

About Polar Power

Polar Power, Inc designs and manufactures direct-current (DC) power systems for telecommunications, commercial and industrial, and other critical-power applications. Its systems are intended to provide primary, backup, and distributed power where reliable electricity is required, including locations with limited or unreliable access to the utility grid.

The company’s product portfolio includes DC generator systems powered by natural gas, liquefied petroleum gas, diesel, and other fuels, as well as renewable and hybrid power systems that can integrate solar energy, batteries, and generator technology.