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

Polar Power Inc (NASDAQ:POLA) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 70,400 shares, an increase of 80.1% from the June 30th total of 39,100 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average trading volume of 14,900 shares, the days-to-cover ratio is currently 4.7 days.

Several research analysts have commented on POLA shares. Zacks Investment Research raised Polar Power from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 3rd. ValuEngine raised Polar Power from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, TheStreet downgraded Polar Power from a “c-” rating to a “d” rating in a report on Thursday, June 6th.

POLA traded up $0.92 during midday trading on Monday, hitting $5.00. 25,811 shares of the company were exchanged, compared to its average volume of 14,028. The firm has a market capitalization of $39.54 million, a price-to-earnings ratio of -62.50 and a beta of 0.26. Polar Power has a 1-year low of $3.45 and a 1-year high of $6.65. The business has a 50 day moving average price of $4.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.55 and a quick ratio of 3.83.

Polar Power (NASDAQ:POLA) last announced its earnings results on Wednesday, May 15th. The utilities provider reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. The firm had revenue of $7.75 million for the quarter, compared to the consensus estimate of $6.50 million. Polar Power had a negative return on equity of 2.01% and a negative net margin of 1.68%. On average, equities analysts predict that Polar Power will post 0.1 EPS for the current year.

An institutional investor recently bought a new position in Polar Power stock. Granite Investment Partners LLC acquired a new position in Polar Power Inc (NASDAQ:POLA) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 80,919 shares of the utilities provider’s stock, valued at approximately $365,000. Granite Investment Partners LLC owned approximately 0.80% of Polar Power at the end of the most recent quarter. 7.32% of the stock is currently owned by institutional investors.

Polar Power Company Profile

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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