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

Polar Power, Inc. (NASDAQ:POLA) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 24,481 shares, a decline of 46.4% from the December 15th total of 45,677 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 23,415 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily trading volume, of 23,415 shares, the days-to-cover ratio is currently 1.0 days. Approximately 1.3% of the shares of the stock are sold short.

Polar Power Price Performance

Shares of POLA traded up $0.24 during trading hours on Friday, hitting $1.68. 285,749 shares of the stock were exchanged, compared to its average volume of 50,163. Polar Power has a fifty-two week low of $1.31 and a fifty-two week high of $5.75. The business has a 50-day moving average of $2.16 and a 200-day moving average of $2.57. The firm has a market capitalization of $4.47 million, a P/E ratio of -0.75 and a beta of 0.73.

Polar Power (NASDAQ:POLA) last posted its quarterly earnings data on Wednesday, November 19th. The utilities provider reported ($1.63) earnings per share for the quarter. Polar Power had a negative return on equity of 135.21% and a negative net margin of 104.14%.The business had revenue of $1.27 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Polar Power in a report on Wednesday, December 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Polar Power presently has a consensus 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.