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

Polar Power, Inc. (NASDAQ:POLA) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 264,602 shares, a drop of 37.3% from the July 30th total of 422,346 shares. Based on an average daily volume of 206,719 shares, the short-interest ratio is currently 1.3 days. Currently, 9.9% of the shares of the stock are sold short.

Polar Power Price Performance

Shares of NASDAQ:POLA traded down $0.01 during midday trading on Tuesday, reaching $1.39. The company’s stock had a trading volume of 53,391 shares, compared to its average volume of 1,423,299. The business’s fifty day simple moving average is $1.64 and its 200-day simple moving average is $1.72. Polar Power has a fifty-two week low of $1.31 and a fifty-two week high of $5.75. The company has a market capitalization of $5.83 million, a P/E ratio of -0.39 and a beta of 1.21.

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

Analysts Set New Price Targets

Several analysts have weighed in on POLA shares. Wall Street Zen raised shares of Polar Power from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings cut shares of Polar Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Polar Power has an average rating of “Sell”.

Polar Power Company Profile

Polar Power, Inc (NASDAQ: POLA) is a California-based designer and manufacturer of direct current (DC) power generation and distribution systems. The company’s primary offerings include solar hybrid power systems, DC gensets and DC power modules engineered to provide reliable, off-grid or grid-tied power solutions. These products are tailored to applications in telecommunications, military, oil and gas, and other industries requiring continuous, low-cost energy delivery in remote or critical-power environments.

Polar Power’s solar hybrid systems combine solar photovoltaic arrays with DC generators and battery storage to create integrated, turnkey power plants.