Short Interest in Polar Power, Inc. (NASDAQ:POLA) Declines By 37.3%

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

Analyst Ratings Changes

Several research analysts have recently issued reports on POLA shares. Wall Street Zen upgraded shares of Polar Power from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings lowered shares of Polar Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Polar Power presently has a consensus rating of “Sell”.

Polar Power Stock Down 2.0%

Shares of NASDAQ:POLA traded down $0.03 during trading on Wednesday, hitting $1.37. The stock had a trading volume of 13,759 shares, compared to its average volume of 1,415,043. The firm’s fifty day moving average is $1.64 and its 200 day moving average is $1.72. The company has a market capitalization of $5.78 million, a PE ratio of -0.39 and a beta of 1.21. Polar Power has a 12 month low of $1.31 and a 12 month high of $5.75.

Polar Power (NASDAQ:POLA) last announced its earnings results on Tuesday, August 18th. The utilities provider reported ($0.49) 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.

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.