Polar Power, Inc. (POLA) Upgraded by Zacks Investment Research to Hold

Polar Power, Inc. (NASDAQ:POLA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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. “

Separately, Roth Capital set a $7.00 price target on shares of Polar Power and gave the stock a “buy” rating in a research report on Wednesday, August 2nd.

Polar Power (POLA) opened at 5.38 on Wednesday. The stock’s 50 day moving average price is $4.83 and its 200-day moving average price is $4.83. Polar Power has a 12 month low of $4.35 and a 12 month high of $10.69. The stock has a market cap of $54.57 million and a price-to-earnings ratio of 12.96.

Polar Power (NASDAQ:POLA) last released its quarterly earnings results on Tuesday, August 8th. The utilities provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.08). The company had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $5.25 million. Polar Power’s quarterly revenue was down 46.8% on a year-over-year basis. Equities analysts expect that Polar Power will post $0.13 EPS for the current year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Foundry Partners LLC grew its stake in Polar Power by 51.6% during the 2nd quarter. Foundry Partners LLC now owns 176,675 shares of the utilities provider’s stock valued at $938,000 after acquiring an additional 60,124 shares in the last quarter. Heartland Advisors Inc. grew its stake in Polar Power by 16.7% during the 2nd quarter. Heartland Advisors Inc. now owns 175,000 shares of the utilities provider’s stock valued at $929,000 after acquiring an additional 25,000 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Polar Power by 17.4% during the 1st quarter. Russell Investments Group Ltd. now owns 93,365 shares of the utilities provider’s stock valued at $775,000 after acquiring an additional 13,832 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in Polar Power by 1.0% during the 2nd quarter. Rice Hall James & Associates LLC now owns 75,871 shares of the utilities provider’s stock valued at $403,000 after acquiring an additional 787 shares in the last quarter. Finally, Vanguard Group Inc. grew 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 valued at $384,000 after acquiring an additional 40,237 shares in the last quarter. Hedge funds and other institutional investors own 8.46% 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).

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