Brokerages Anticipate Polar Power, Inc. (POLA) to Post $0.02 Earnings Per Share
Shares of Polar Power, Inc. (NASDAQ:POLA) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Analysts have set a 12 month consensus target price of $7.00 for the company and are expecting that the company will post $0.02 EPS for the current quarter, according to Zacks. Zacks has also given Polar Power an industry rank of 172 out of 265 based on the ratings given to related companies.
Several equities research analysts have commented on POLA shares. Roth Capital set a $7.00 target price on shares of Polar Power and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Polar Power from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th.
Polar Power (NASDAQ:POLA) last issued its earnings results on Tuesday, August 8th. The utilities provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.08). The business had revenue of $2.50 million for the quarter, compared to the consensus estimate of $5.25 million. The business’s revenue for the quarter was down 46.8% compared to the same quarter last year. On average, analysts anticipate that Polar Power will post $0.12 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of POLA. Ingalls & Snyder LLC purchased a new stake in shares of Polar Power during the 2nd quarter worth $162,000. Goldman Sachs Group Inc. boosted its position in shares of Polar Power by 112.3% during the 1st 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of Polar Power by 125.5% during the 2nd quarter. Vanguard Group Inc. now owns 72,306 shares of the utilities provider’s stock worth $384,000 after purchasing an additional 40,237 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Polar Power by 1.0% during the 2nd quarter. Rice Hall James & Associates LLC now owns 75,871 shares of the utilities provider’s stock worth $403,000 after purchasing an additional 787 shares in the last quarter. Finally, Heartland Advisors Inc. boosted its position in shares of Polar Power by 16.7% during the 2nd quarter. Heartland Advisors Inc. now owns 175,000 shares of the utilities provider’s stock worth $929,000 after purchasing an additional 25,000 shares in the last quarter. Institutional investors own 8.67% of the company’s stock.
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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