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

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

Polar Power Trading Down 4.3%

Shares of Polar Power stock traded down $0.02 during trading on Friday, reaching $0.54. The company’s stock had a trading volume of 123,471 shares, compared to its average volume of 1,243,879. The stock has a market capitalization of $2.31 million, a P/E ratio of -0.15 and a beta of 1.18. The stock has a 50-day moving average price of $1.17 and a two-hundred day moving average price of $1.59. Polar Power has a one year low of $0.50 and a one year high of $4.34.

Polar Power (NASDAQ:POLA) last announced its quarterly earnings data on Tuesday, August 18th. The utilities provider reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.02 million for the quarter, compared to analysts’ expectations of $3.80 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Polar Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 18th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Polar Power Company Profile

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.