Shares of Polar Power Inc (NASDAQ:POLA) have received an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating. Polar Power’s rating score has declined by 200% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 1 year consensus price objective of $5.00 for the company and are predicting that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also given Polar Power an industry rank of 195 out of 265 based on the ratings given to its competitors.
A number of equities analysts have recently issued reports on the stock. Roth Capital set a $7.00 price objective on shares of Polar Power and gave the company a “buy” rating in a research note on Sunday, October 15th. ValuEngine cut shares of Polar Power from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Zacks Investment Research cut shares of Polar Power from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th.
Polar Power (NASDAQ:POLA) last announced its quarterly earnings data on Monday, November 6th. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). Polar Power had a net margin of 8.59% and a return on equity of 6.40%. The business had revenue of $3.03 million during the quarter, compared to analyst estimates of $4.65 million. The business’s revenue for the quarter was down 59.6% on a year-over-year basis. research analysts forecast that Polar Power will post -0.03 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in POLA. Foundry Partners LLC increased its position in shares of Polar Power by 51.6% during the 2nd 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 in the last quarter. Malaga Cove Capital LLC acquired a new stake in shares of Polar Power during the 3rd quarter worth about $238,000. Vanguard Group Inc. increased 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. Heartland Advisors Inc. increased 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. Finally, Ingalls & Snyder LLC increased its position in shares of Polar Power by 69.2% during the 3rd quarter. Ingalls & Snyder LLC now owns 51,617 shares of the utilities provider’s stock worth $247,000 after purchasing an additional 21,117 shares in the last quarter. Institutional investors and hedge funds own 7.41% 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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