Polar Power, Inc. (NASDAQ:POLA) Sees Large Increase in Short Interest

Polar Power, Inc. (NASDAQ:POLA) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 248,603 shares, an increase of 95.6% from the April 15th total of 127,129 shares. Currently, 9.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 523,765 shares, the days-to-cover ratio is currently 0.5 days.

Polar Power Stock Performance

Shares of POLA stock traded up $0.07 on Monday, hitting $1.70. 162,433 shares of the company’s stock traded hands, compared to its average volume of 1,817,585. Polar Power has a one year low of $1.31 and a one year high of $5.75. The company’s fifty day simple moving average is $1.77 and its 200 day simple moving average is $2.00. The stock has a market capitalization of $6.19 million, a price-to-earnings ratio of -0.47 and a beta of 1.13.

Polar Power (NASDAQ:POLA) last released its earnings results on Wednesday, April 15th. The utilities provider reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.93). Polar Power had a negative net margin of 144.88% and a negative return on equity of 211.39%. The business had revenue of $0.60 million for the quarter, compared to the consensus estimate of $5.00 million.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen cut shares of Polar Power from a “sell” rating to a “strong sell” rating in a research report on Sunday. Weiss Ratings cut shares of Polar Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

About Polar Power

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.