Polar Power, Inc. (NASDAQ:POLA) Short Interest Up 21.4% in November

Polar Power, Inc. (NASDAQ:POLA) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 49,400 shares, an increase of 21.4% from the November 15th total of 40,700 shares. Based on an average daily volume of 38,700 shares, the days-to-cover ratio is presently 1.3 days. Currently, 2.9% of the shares of the company are short sold.

Polar Power Price Performance

Shares of NASDAQ POLA traded up $0.05 during midday trading on Monday, reaching $2.65. 17,505 shares of the company traded hands, compared to its average volume of 19,813. The company has a market cap of $6.65 million, a price-to-earnings ratio of -1.15 and a beta of 0.95. The stock has a 50-day moving average price of $3.17 and a 200 day moving average price of $3.09. Polar Power has a 52 week low of $2.24 and a 52 week 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. lifted its position in Polar Power, Inc. (NASDAQ:POLA) by 7.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor 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. Institutional investors and hedge funds own 26.10% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Polar Power in a research note on Thursday. They issued a “sell” rating on the stock.

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.