Zacks: Polar Power Inc (POLA) Given Average Recommendation of “Hold” by Brokerages

Polar Power Inc (NASDAQ:POLA) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers 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% from three months ago as a result of various analysts’ ratings changes.

Brokers have set a 1 year consensus price target of $5.00 for the company and are predicting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also given Polar Power an industry rank of 187 out of 265 based on the ratings given to its competitors.

Several equities analysts have recently issued reports on the company. Roth Capital set a $7.00 price objective on Polar Power and gave the company a “buy” rating in a research note on Sunday, October 15th. ValuEngine cut Polar Power from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Zacks Investment Research cut Polar Power from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th.

Polar Power (POLA) traded down $0.04 during midday trading on Tuesday, reaching $5.00. The company’s stock had a trading volume of 12,116 shares, compared to its average volume of 83,809. The company has a debt-to-equity ratio of 0.01, a current ratio of 23.62 and a quick ratio of 18.35. Polar Power has a 52 week low of $4.12 and a 52 week high of $11.50.

Polar Power (NASDAQ:POLA) last released its 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). The firm had revenue of $3.03 million during the quarter, compared to analyst estimates of $4.65 million. Polar Power had a net margin of 8.59% and a return on equity of 6.40%. The firm’s quarterly revenue was down 59.6% on a year-over-year basis. sell-side analysts forecast that Polar Power will post -0.03 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Ingalls & Snyder LLC boosted its stake in shares of Polar Power by 69.2% in the 3rd quarter. Ingalls & Snyder LLC now owns 51,617 shares of the utilities provider’s stock valued at $247,000 after buying an additional 21,117 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Polar Power by 112.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 25,475 shares of the utilities provider’s stock valued at $211,000 after buying an additional 13,475 shares during the period. Foundry Partners LLC boosted its stake in shares of Polar Power by 51.6% in the 2nd quarter. Foundry Partners LLC now owns 176,675 shares of the utilities provider’s stock valued at $938,000 after buying an additional 60,124 shares during the period. Rice Hall James & Associates LLC boosted its stake in shares of Polar Power by 1.0% in the 2nd quarter. Rice Hall James & Associates LLC now owns 75,871 shares of the utilities provider’s stock valued at $403,000 after buying an additional 787 shares during the period. Finally, Malaga Cove Capital LLC purchased a new position in shares of Polar Power in the 3rd quarter valued at about $238,000. Institutional investors and hedge funds own 7.41% of the company’s stock.

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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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