Zacks: Polar Power Inc (POLA) Given Average Rating of “Hold” by Analysts

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Shares of Polar Power Inc (NASDAQ:POLA) have been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Analysts have set a twelve-month consensus price target of $6.00 for the company and are forecasting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Polar Power an industry rank of 108 out of 255 based on the ratings given to related companies.

A number of brokerages have commented on POLA. ValuEngine upgraded shares of Polar Power from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Polar Power from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Finally, TheStreet lowered shares of Polar Power from a “c-” rating to a “d” rating in a report on Monday, June 11th.

Polar Power traded up $0.02, reaching $6.42, during trading on Friday, MarketBeat reports. The stock had a trading volume of 64,605 shares, compared to its average volume of 4,066. Polar Power has a 1-year low of $4.01 and a 1-year high of $6.85.

Polar Power (NASDAQ:POLA) last issued its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Polar Power had a negative net margin of 6.28% and a negative return on equity of 4.83%. The firm had revenue of $5.82 million for the quarter, compared to analyst estimates of $5.50 million. sell-side analysts forecast that Polar Power will post 0.05 EPS for the current fiscal year.

An institutional investor recently raised its position in Polar Power stock. Bard Associates Inc. grew its stake in Polar Power Inc (NASDAQ:POLA) by 11.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,175 shares of the utilities provider’s stock after purchasing an additional 11,513 shares during the quarter. Bard Associates Inc. owned approximately 1.09% of Polar Power worth $550,000 as of its most recent filing with the SEC. Institutional investors own 6.94% of the company’s stock.

Polar Power Company Profile

Polar Power, Inc designs, manufactures, and sells direct current (DC) power systems for applications in the telecommunications, military, electric vehicle charging, cogeneration, distributed power, and uninterruptable power supply markets in the United States and internationally. It offers DC base power systems, DC hybrid power systems, and DC solar hybrid power systems.

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