Polar Power, Inc. (NASDAQ:POLA) Sees Significant Decline in Short Interest

Polar Power, Inc. (NASDAQ:POLA) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 331,200 shares, a drop of 18.2% from the March 15th total of 405,100 shares. Based on an average trading volume of 101,400 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in Polar Power by 5.7% during the 1st quarter. Renaissance Technologies LLC now owns 107,385 shares of the utilities provider’s stock worth $344,000 after purchasing an additional 5,785 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Polar Power by 87.0% in the third quarter. Vanguard Group Inc. now owns 232,896 shares of the utilities provider’s stock valued at $575,000 after acquiring an additional 108,367 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Polar Power by 3.8% in the third quarter. Baird Financial Group Inc. now owns 316,055 shares of the utilities provider’s stock valued at $781,000 after acquiring an additional 11,600 shares in the last quarter. Finally, Bard Associates Inc. boosted its holdings in shares of Polar Power by 802.2% in the fourth quarter. Bard Associates Inc. now owns 2,806,023 shares of the utilities provider’s stock valued at $1,140,000 after acquiring an additional 2,495,000 shares in the last quarter. 26.10% of the stock is owned by hedge funds and other institutional investors.

Polar Power Price Performance

Shares of Polar Power stock opened at $0.45 on Monday. Polar Power has a 1 year low of $0.32 and a 1 year high of $1.88. The company’s fifty day moving average is $0.44 and its two-hundred day moving average is $0.58.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Polar Power in a research note on Monday, April 8th. They set 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.