Polar Power, Inc. (NASDAQ:POLA) Sees Large Decrease in Short Interest

Polar Power, Inc. (NASDAQ:POLA) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 40,700 shares, a drop of 82.7% from the October 31st total of 235,200 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average daily volume of 36,800 shares, the short-interest ratio is presently 1.1 days.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Polar Power in a report on Tuesday. They set a “sell” rating on the stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Polar Power stock. Bard Associates Inc. lifted its holdings in shares of Polar Power, Inc. (NASDAQ:POLA) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,009,123 shares of the utilities provider’s stock after buying an additional 210,000 shares during the period. Bard Associates Inc. owned approximately 17.14% of Polar Power worth $1,435,000 at the end of the most recent reporting period. 26.10% of the stock is owned by hedge funds and other institutional investors.

Polar Power Price Performance

Shares of NASDAQ:POLA traded down $0.08 during trading on Wednesday, reaching $2.87. 35,519 shares of the company’s stock traded hands, compared to its average volume of 19,792. The stock has a market capitalization of $7.20 million, a P/E ratio of -1.36 and a beta of 0.94. Polar Power has a 12 month low of $2.24 and a 12 month high of $5.95. The company has a 50 day moving average of $3.28 and a 200-day moving average of $3.13.

About Polar Power

Polar Power, Inc designs, manufactures, and sells direct current (DC) power generators, renewable energy, and cooling systems in the United States and internationally. The company offers DC base power systems, DC hybrid power systems, DC solar hybrid power systems, and mobile power systems. Its DC power systems are available in diesel, natural gas, LPG/propane, and renewable fuel formats.