Polar Power, Inc. (NASDAQ:POLA) Shares Shorted: Short Interest Down 55.0% in October

Polar Power, Inc. (NASDAQ:POLA) saw a large drop in short interest in October. As of October 15th, there was short interest totaling 109,010 shares, a drop of 55.0% from the September 30th total of 242,276 shares. Approximately 3.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 121,072 shares, the short-interest ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Polar Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Polar Power currently has an average rating of “Sell”.

Polar Power Stock Performance

Shares of POLA traded down $0.02 during mid-day trading on Friday, reaching $0.54. The company had a trading volume of 144,699 shares, compared to its average volume of 946,436. Polar Power has a 52 week low of $0.50 and a 52 week high of $4.34. The company has a market capitalization of $2.31 million, a price-to-earnings ratio of -0.15 and a beta of 1.18. The firm has a 50-day moving average price of $1.15 and a 200 day moving average price of $1.58.

Polar Power (NASDAQ:POLA) last issued its quarterly earnings results on Tuesday, August 18th. The utilities provider reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.14. The firm had revenue of $1.02 million during the quarter, compared to the consensus estimate of $3.80 million. Polar Power had a negative return on equity of 610.87% and a negative net margin of 207.92%.

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.