Polar Power Inc (NASDAQ:POLA) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 63,500 shares, a drop of 9.8% from the July 31st total of 70,400 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 21,000 shares, the days-to-cover ratio is presently 3.0 days.

POLA traded up $0.06 during mid-day trading on Friday, reaching $3.73. 15,400 shares of the stock were exchanged, compared to its average volume of 17,083. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.56 and a current ratio of 6.96. The stock has a market capitalization of $37.69 million, a PE ratio of -46.88 and a beta of 0.37. The company has a 50 day moving average price of $3.81 and a two-hundred day moving average price of $4.31. Polar Power has a 1 year low of $3.03 and a 1 year high of $6.20.

Polar Power (NASDAQ:POLA) last posted its quarterly earnings data on Monday, August 12th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.05. The firm had revenue of $9.24 million for the quarter, compared to the consensus estimate of $7.00 million. Polar Power had a negative net margin of 0.38% and a negative return on equity of 0.51%. Sell-side analysts expect that Polar Power will post 0.11 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of POLA. Granite Investment Partners LLC purchased a new position in Polar Power during the 1st quarter worth $365,000. Morgan Stanley boosted its holdings in Polar Power by 98.9% during the 2nd quarter. Morgan Stanley now owns 12,016 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 5,976 shares during the last quarter. Finally, River & Mercantile Asset Management LLP purchased a new position in Polar Power during the 2nd quarter worth $860,000. 8.40% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Polar Power from a “hold” rating to a “strong-buy” rating and set a $4.25 price objective on the stock in a report on Friday, August 16th. TheStreet downgraded shares of Polar Power from a “c-” rating to a “d+” rating in a report on Friday, September 6th. Finally, ValuEngine raised shares of Polar Power from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd.

Polar Power Company Profile

Polar Power, Inc designs, manufactures, and sells direct current (DC) power systems for applications in the telecommunications, military, electric vehicle charging, cogeneration, distributed power, and uninterruptable power supply markets in the United States and internationally. It offers DC base power systems, DC hybrid power systems, and DC solar hybrid power systems.

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