Polar Power, Inc. (NASDAQ:POLA) Short Interest Down 82.7% in November

Polar Power, Inc. (NASDAQ:POLA) was the target of a large 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. Based on an average daily volume of 36,800 shares, the days-to-cover ratio is presently 1.1 days. Currently, 2.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Polar Power in a report on Tuesday. They issued a “sell” rating for the company.

Institutional Investors Weigh In On Polar Power

A hedge fund recently raised its stake in Polar Power stock. Bard Associates Inc. grew its position in shares of Polar Power, Inc. (NASDAQ:POLA) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,009,123 shares of the utilities provider’s stock after purchasing an additional 210,000 shares during the period. Bard Associates Inc. owned 17.14% of Polar Power worth $1,435,000 at the end of the most recent quarter. Institutional investors own 26.10% of the company’s stock.

Polar Power Trading Down 2.7 %

Shares of POLA traded down $0.08 during trading hours on Thursday, reaching $2.87. The company had a trading volume of 35,519 shares, compared to its average volume of 19,792. Polar Power has a 12-month low of $2.24 and a 12-month high of $5.95. The company has a market capitalization of $7.20 million, a price-to-earnings ratio of -1.24 and a beta of 0.94. The firm has a 50 day simple moving average of $3.28 and a 200-day simple 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.