Polar Power, Inc. (NASDAQ:POLA) shares dropped 8.7% during mid-day trading on Wednesday . The stock traded as low as $7.60 and last traded at $7.94. Approximately 1,640,159 shares changed hands during trading, a decline of 18% from the average daily volume of 1,996,507 shares. The stock had previously closed at $8.70.
Separately, ValuEngine lowered Polar Power from a “buy” rating to a “hold” rating in a research note on Friday, September 25th.
The company has a 50 day moving average of $5.13 and a 200-day moving average of $3.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.43 and a current ratio of 6.11. The stock has a market cap of $92.51 million, a price-to-earnings ratio of 43.43 and a beta of 0.51.
Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in Polar Power during the 3rd quarter worth approximately $49,000. Virtu Financial LLC purchased a new stake in Polar Power during the third quarter valued at about $155,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Polar Power during the second quarter valued at about $280,000. 3.16% of the stock is currently owned by institutional investors.
About Polar Power (NASDAQ:POLA)
Polar Power, Inc designs, manufactures, and sells direct current (DC), power generators, renewable energy, and cooling systems in the United States and internationally. It offers DC base power systems, DC hybrid power systems, and DC solar hybrid power systems. The company serves telecommunications, military, electric vehicle charging, cogeneration, distributed power, and uninterruptable power supply markets It sells its products through direct sales force, and a network of independent service providers and dealers.
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