Polar Power, Inc. (NASDAQ:POLA) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price objective of $7.00 for the company and are expecting that the company will post $0.04 EPS for the current quarter, according to Zacks. Zacks has also assigned Polar Power an industry rank of 173 out of 265 based on the ratings given to its competitors.

Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Polar Power from a “sell” rating to a “hold” rating in a report on Saturday, September 9th. Roth Capital set a $7.00 price objective on shares of Polar Power and gave the company a “buy” rating in a report on Wednesday, August 9th.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings in Polar Power by 17.4% in the first quarter. Russell Investments Group Ltd. now owns 93,365 shares of the utilities provider’s stock worth $775,000 after purchasing an additional 13,832 shares during the period. Spark Investment Management LLC acquired a new stake in Polar Power in the first quarter worth $131,000. Goldman Sachs Group Inc. raised its holdings in Polar Power by 112.3% in the first quarter. Goldman Sachs Group Inc. now owns 25,475 shares of the utilities provider’s stock worth $211,000 after purchasing an additional 13,475 shares during the period. Ingalls & Snyder LLC acquired a new stake in Polar Power in the second quarter worth $162,000. Finally, Foundry Partners LLC raised its holdings in Polar Power by 51.6% in the second quarter. Foundry Partners LLC now owns 176,675 shares of the utilities provider’s stock worth $938,000 after purchasing an additional 60,124 shares during the period. Institutional investors and hedge funds own 8.46% of the company’s stock.

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Polar Power (POLA) remained flat at $5.28 on Friday. 18,154 shares of the company’s stock traded hands. Polar Power has a 1-year low of $4.35 and a 1-year high of $10.69. The company has a market capitalization of $53.56 million and a P/E ratio of 12.72. The stock has a 50-day moving average of $4.75 and a 200 day moving average of $4.75.

Polar Power (NASDAQ:POLA) last announced its quarterly earnings data 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% compared to the same quarter last year. On average, analysts forecast that Polar Power will post $0.13 earnings per share for the current year.

About Polar Power

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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