Polar Power Inc (NASDAQ:POLA) Short Interest Update

Polar Power Inc (NASDAQ:POLA) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 63,500 shares, a drop of 9.8% from the July 31st total of 70,400 shares. Based on an average daily volume of 21,000 shares, the short-interest ratio is presently 3.0 days. Currently, 1.8% of the shares of the stock are short sold.

NASDAQ POLA traded up $0.06 during trading hours on Friday, reaching $3.73. The company’s stock had a trading volume of 15,400 shares, compared to its average volume of 17,083. The firm has a fifty day simple moving average of $3.81 and a 200-day simple moving average of $4.31. The stock has a market cap of $37.69 million, a P/E ratio of -46.88 and a beta of 0.37. Polar Power has a 52 week low of $3.03 and a 52 week high of $6.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.96 and a quick ratio of 3.56.

Polar Power (NASDAQ:POLA) last issued its quarterly earnings data on Monday, August 12th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $9.24 million during the quarter, compared to analyst estimates of $7.00 million. Polar Power had a negative net margin of 0.38% and a negative return on equity of 0.51%. On average, research analysts expect that Polar Power will post 0.11 earnings per share for the current year.

A number of research firms have recently weighed in on POLA. ValuEngine upgraded shares of Polar Power from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. Zacks Investment Research upgraded shares of Polar Power from a “hold” rating to a “strong-buy” rating and set a $4.25 price objective for the company in a report on Friday, August 16th. Finally, TheStreet lowered shares of Polar Power from a “c-” rating to a “d+” rating in a report on Friday, September 6th.

A number of hedge funds and other institutional investors have recently modified their holdings of POLA. River & Mercantile Asset Management LLP bought a new position in Polar Power during the 2nd quarter worth approximately $860,000. Granite Investment Partners LLC bought a new position in Polar Power during the 1st quarter worth approximately $365,000. Finally, Morgan Stanley raised its holdings in Polar Power by 98.9% during the 2nd quarter. Morgan Stanley now owns 12,016 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 5,976 shares during the last quarter. Institutional investors and hedge funds own 8.40% of the company’s stock.

About Polar Power

Polar Power, Inc designs, manufactures, and sells direct current (DC) power systems for applications in the telecommunications, military, electric vehicle charging, cogeneration, distributed power, and uninterruptable power supply markets in the United States and internationally. It offers DC base power systems, DC hybrid power systems, and DC solar hybrid power systems.

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