Polar Power (NASDAQ:POLA) Shares Up 11.6%

Polar Power Inc (NASDAQ:POLA)’s share price shot up 11.6% during mid-day trading on Friday . The company traded as high as $3.05 and last traded at $2.98, 217,253 shares traded hands during trading. An increase of 159% from the average session volume of 83,745 shares. The stock had previously closed at $2.67.

Separately, Zacks Investment Research lowered shares of Polar Power from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.43 and a current ratio of 8.23. The firm has a market cap of $25.56 million, a price-to-earnings ratio of -37.25 and a beta of 0.25. The stock’s 50 day simple moving average is $2.47 and its 200-day simple moving average is $3.22.

An institutional investor recently bought a new position in Polar Power stock. River & Mercantile Asset Management LLP purchased a new stake in shares of Polar Power Inc (NASDAQ:POLA) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 206,840 shares of the utilities provider’s stock, valued at approximately $860,000. River & Mercantile Asset Management LLP owned approximately 2.04% of Polar Power at the end of the most recent quarter. 4.97% of the stock is currently owned by hedge funds and other institutional investors.

Polar Power Company Profile (NASDAQ:POLA)

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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