Zacks Investment Research upgraded shares of Polar Power (NASDAQ:POLA) from a strong sell rating to a hold rating in a report published on Wednesday, January 10th.
According to Zacks, “Polar Power Inc. is engaged in designing, manufacturing and selling direct current power, systems and cooling systems for telecommunications, military, hybrid power station, DC marine and rapid charging electric vehicle. Its product portfolio includes DC generators, Marine DC generators, DC alternators, Li-ion batteries and generator accessories. Polar Power Inc. is headquatered in Gardena, California. “
POLA has been the topic of a number of other research reports. Roth Capital downgraded shares of Polar Power from a buy rating to a neutral rating and cut their target price for the company from $7.00 to $5.00 in a research note on Tuesday, November 7th. ValuEngine downgraded shares of Polar Power from a buy rating to a hold rating in a research note on Thursday, November 9th.
Polar Power (NASDAQ:POLA) last issued its earnings results on Monday, November 6th. The utilities provider reported ($0.04) EPS for the quarter, missing the Zacks’ 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. Polar Power’s revenue was down 59.6% on a year-over-year basis. equities research analysts expect that Polar Power will post -0.03 EPS for the current year.
Several hedge funds have recently modified their holdings of POLA. Malaga Cove Capital LLC purchased a new position in shares of Polar Power in the 3rd quarter valued at $238,000. Vanguard Group Inc. increased its stake in 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 buying an additional 40,237 shares during the period. Ingalls & Snyder LLC increased its stake in 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 buying an additional 21,117 shares during the period. Finally, Foundry Partners LLC increased its stake in Polar Power by 9.5% during the 3rd quarter. Foundry Partners LLC now owns 193,390 shares of the utilities provider’s stock worth $926,000 after buying an additional 16,715 shares during the period. 7.31% of the stock is currently owned by institutional investors and hedge funds.
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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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