Polar Power Inc (NASDAQ:POLA) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totalling 64,300 shares, a growth of 598.9% from the February 27th total of 9,200 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average daily volume of 61,300 shares, the days-to-cover ratio is currently 1.0 days.
Polar Power stock traded down $0.23 during trading hours on Thursday, hitting $1.26. The stock had a trading volume of 100,843 shares, compared to its average volume of 72,199. The company has a quick ratio of 3.43, a current ratio of 8.23 and a debt-to-equity ratio of 0.11. The stock has a market cap of $14.40 million, a price-to-earnings ratio of 18.00 and a beta of 0.38. Polar Power has a one year low of $0.95 and a one year high of $5.25. The business’s 50 day simple moving average is $2.25 and its 200-day simple moving average is $2.67.
A hedge fund recently bought a new stake in Polar Power stock. Renaissance Technologies LLC bought a new stake in Polar Power Inc (NASDAQ:POLA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 29,447 shares of the utilities provider’s stock, valued at approximately $70,000. Renaissance Technologies LLC owned about 0.29% of Polar Power at the end of the most recent quarter. 3.73% of the stock is owned by institutional investors.
About Polar Power
Polar Power, Inc designs, manufactures, and sells direct current (DC) power systems for applications in the telecommunications, military, electric vehicle charging, cogeneration, distributed power, and uninterruptable power supply markets in the United States and internationally. It offers DC base power systems, DC hybrid power systems, and DC solar hybrid power systems.
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