Short Interest in Polar Power, Inc. (NASDAQ:POLA) Decreases By 24.5%

Polar Power, Inc. (NASDAQ:POLA) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totalling 37,300 shares, a drop of 24.5% from the November 30th total of 49,400 shares. Based on an average trading volume of 40,400 shares, the short-interest ratio is currently 0.9 days. Approximately 2.2% of the shares of the stock are sold short.

Polar Power Price Performance

Shares of NASDAQ:POLA remained flat at $2.78 on Friday. The stock had a trading volume of 7,314 shares, compared to its average volume of 19,537. The stock has a market cap of $6.98 million, a PE ratio of -1.20 and a beta of 0.95. The firm has a fifty day simple moving average of $3.03 and a 200 day simple moving average of $3.08. Polar Power has a one year low of $2.24 and a one year high of $4.90.

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 Polar Power, Inc. (NASDAQ:POLA) by 7.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,009,123 shares of the utilities provider’s stock after buying an additional 210,000 shares during the quarter. Bard Associates Inc. owned approximately 17.14% of Polar Power worth $1,435,000 at the end of the most recent quarter. Institutional investors and hedge funds own 26.10% of the company’s stock.

Analysts Set New Price Targets

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

Polar Power Company Profile

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.