Polar Power, Inc. (NASDAQ:POLA) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, November 9th.
Several other equities research analysts have also commented on POLA. Roth Capital lowered Polar Power from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $7.00 to $5.00 in a research note on Tuesday, November 7th. Zacks Investment Research raised shares of Polar Power from a “sell” rating to a “hold” rating in a research report on Saturday, September 9th.
Shares of Polar Power (NASDAQ:POLA) opened at $5.28 on Thursday. Polar Power has a 12 month low of $4.12 and a 12 month high of $11.50. The company has a current ratio of 23.62, a quick ratio of 18.35 and a debt-to-equity ratio of 0.01.
Polar Power (NASDAQ:POLA) last released its earnings results on Monday, November 6th. The utilities provider reported ($0.04) earnings per share (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 company had revenue of $3.03 million during the quarter, compared to analysts’ expectations of $4.65 million. The company’s revenue was down 59.6% compared to the same quarter last year. research analysts anticipate that Polar Power will post -0.03 earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the business. Foundry Partners LLC increased its position in shares of Polar Power by 51.6% during the second quarter. Foundry Partners LLC now owns 176,675 shares of the utilities provider’s stock worth $938,000 after acquiring an additional 60,124 shares in the last quarter. Malaga Cove Capital LLC bought a new position in Polar Power during the third quarter worth about $238,000. Vanguard Group Inc. increased its holdings in Polar Power by 125.5% in the 2nd quarter. Vanguard Group Inc. now owns 72,306 shares of the utilities provider’s stock valued at $384,000 after buying an additional 40,237 shares during the period. Ingalls & Snyder LLC bought a new position in Polar Power in the 2nd quarter valued at about $162,000. Finally, Heartland Advisors Inc. increased its holdings in Polar Power by 16.7% in the 2nd quarter. Heartland Advisors Inc. now owns 175,000 shares of the utilities provider’s stock valued at $929,000 after buying an additional 25,000 shares during the period. Hedge funds and other institutional investors own 7.34% 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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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