Short Interest in Polar Power, Inc. (NASDAQ:POLA) Increases By 192.1%

Polar Power, Inc. (NASDAQ:POLA) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totaling 422,346 shares, an increase of 192.1% from the July 15th total of 144,608 shares. Based on an average daily trading volume, of 4,181,718 shares, the days-to-cover ratio is currently 0.1 days. Currently, 15.8% of the shares of the stock are sold short.

Polar Power Price Performance

NASDAQ POLA traded down $0.02 during trading hours on Friday, reaching $1.78. 70,302 shares of the company’s stock traded hands, compared to its average volume of 2,640,654. Polar Power has a 52-week low of $1.31 and a 52-week high of $5.75. The firm has a 50-day simple moving average of $1.70 and a 200 day simple moving average of $1.72. The firm has a market cap of $6.85 million, a PE ratio of -0.57 and a beta of 1.21.

Polar Power (NASDAQ:POLA) last released its quarterly earnings data on Wednesday, May 20th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.58. The business had revenue of $1.73 million for the quarter, compared to analysts’ expectations of $3.80 million. Polar Power had a negative return on equity of 259.19% and a negative net margin of 127.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on POLA. Wall Street Zen raised shares of Polar Power from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings raised Polar Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Polar Power Company Profile

Polar Power, Inc (NASDAQ: POLA) is a California-based designer and manufacturer of direct current (DC) power generation and distribution systems. The company’s primary offerings include solar hybrid power systems, DC gensets and DC power modules engineered to provide reliable, off-grid or grid-tied power solutions. These products are tailored to applications in telecommunications, military, oil and gas, and other industries requiring continuous, low-cost energy delivery in remote or critical-power environments.

Polar Power’s solar hybrid systems combine solar photovoltaic arrays with DC generators and battery storage to create integrated, turnkey power plants.