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

Polar Power, Inc. (NASDAQ:POLA) was the recipient of a large 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. Approximately 3.1% of the shares of the company are sold short. Based on an average trading volume of 121,072 shares, the short-interest ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Polar Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Polar Power Trading Down 4.3%

POLA traded down $0.02 during midday trading on Friday, hitting $0.54. The company’s stock had a trading volume of 123,471 shares, compared to its average volume of 1,243,879. Polar Power has a 52-week low of $0.50 and a 52-week high of $4.34. The firm has a 50-day moving average price of $1.17 and a two-hundred day moving average price of $1.59. The firm has a market cap of $2.31 million, a P/E ratio of -0.15 and a beta of 1.18.

Polar Power (NASDAQ:POLA) last posted its quarterly earnings results 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 return on equity of 610.87% and a negative net margin of 207.92%. The firm had revenue of $1.02 million during the quarter, compared to the consensus estimate of $3.80 million.

About Polar Power

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.