Polar Power Inc (NASDAQ:POLA) has been given an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation. Polar Power’s rating score has declined by 200% in the last 90 days as a result of various analysts’ ratings changes.
Analysts have set a one year consensus target price of $5.00 for the company and are anticipating that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Polar Power an industry rank of 208 out of 265 based on the ratings given to related companies.
POLA has been the topic of several recent analyst reports. Roth Capital set a $7.00 price target on Polar Power and gave the company a “buy” rating in a report on Sunday, October 15th. Zacks Investment Research upgraded Polar Power from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, ValuEngine lowered Polar Power from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th.
Polar Power (NASDAQ:POLA) last released its quarterly earnings results on Monday, November 6th. The utilities provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $4.65 million. The firm’s quarterly revenue was down 59.6% on a year-over-year basis. analysts anticipate that Polar Power will post -0.03 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Malaga Cove Capital LLC bought a new position in shares of Polar Power during the 3rd quarter valued at about $238,000. 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 valued at $247,000 after purchasing an additional 21,117 shares during the last quarter. 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 valued at $384,000 after purchasing an additional 40,237 shares during the last quarter. Finally, Foundry Partners LLC increased its position in shares of Polar Power by 9.5% during the 3rd quarter. Foundry Partners LLC now owns 193,390 shares of the utilities provider’s stock valued at $926,000 after purchasing an additional 16,715 shares during the last quarter. Hedge funds and other institutional investors own 7.31% 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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