Polar Power, Inc. (POLA) Upgraded to Hold at Zacks Investment Research
Polar Power, Inc. (NASDAQ:POLA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “Polar Power Inc. is engaged in designing, manufacturing and selling direct current power, systems and cooling systems for telecommunications, military, hybrid power station, DC marine and rapid charging electric vehicle. Its product portfolio includes DC generators, Marine DC generators, DC alternators, Li-ion batteries and generator accessories. Polar Power Inc. is headquatered in Gardena, California. “
Separately, Roth Capital set a $7.00 target price on shares of Polar Power and gave the company a “buy” rating in a report on Wednesday, August 2nd.
Shares of Polar Power (NASDAQ:POLA) opened at 4.65 on Friday. The firm has a market capitalization of $47.16 million and a PE ratio of 11.20. The stock has a 50 day moving average price of $4.75 and a 200 day moving average price of $6.13. Polar Power has a 52 week low of $4.12 and a 52 week high of $11.50.
Polar Power (NASDAQ:POLA) last posted its earnings results on Tuesday, August 8th. The utilities provider reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.08. The company had revenue of $2.50 million for the quarter, compared to analyst estimates of $5.25 million. The company’s revenue for the quarter was down 46.8% on a year-over-year basis. Equities analysts forecast that Polar Power will post $0.13 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the business. Foundry Partners LLC lifted its holdings in Polar Power by 51.6% in the 2nd quarter. Foundry Partners LLC now owns 176,675 shares of the utilities provider’s stock worth $938,000 after buying an additional 60,124 shares in the last quarter. Heartland Advisors Inc. lifted its holdings in Polar Power by 16.7% in the 2nd quarter. Heartland Advisors Inc. now owns 175,000 shares of the utilities provider’s stock worth $929,000 after buying an additional 25,000 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Polar Power by 17.4% in the 1st quarter. Russell Investments Group Ltd. now owns 93,365 shares of the utilities provider’s stock worth $775,000 after buying an additional 13,832 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in Polar Power by 1.0% in the 2nd quarter. Rice Hall James & Associates LLC now owns 75,871 shares of the utilities provider’s stock worth $403,000 after buying an additional 787 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Polar Power by 125.5% in the 2nd quarter. Vanguard Group Inc. now owns 72,306 shares of the utilities provider’s stock worth $384,000 after buying an additional 40,237 shares in the last quarter. Hedge funds and other institutional investors own 8.46% of the company’s stock.
Polar Power Company Profile
Polar Power, Inc is engaged in designing, manufacturing and selling direct current (DC) power systems for applications primarily in the telecommunications, military, electric vehicle charging, cogeneration, distributed power and uninterruptable power supply markets. Within the telecommunications market, the Company’s DC power systems provide DC power to service applications that do not have access to the utility grid (such as off-grid applications) or have critical power needs and cannot be without power in the event of utility grid failure (such as back-up power applications).
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