Polar Power (POLA) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Polar Power (NASDAQ:POLA) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $7.50 target price on the utilities provider’s stock.

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. “

A number of other analysts also recently weighed in on the company. ValuEngine upgraded Polar Power from a hold rating to a buy rating in a research report on Thursday, August 2nd. TheStreet downgraded Polar Power from a c- rating to a d rating in a research report on Monday, June 11th.

NASDAQ:POLA opened at $6.23 on Wednesday. The firm has a market cap of $65.12 million, a PE ratio of -77.88 and a beta of -0.80. Polar Power has a fifty-two week low of $4.01 and a fifty-two week high of $6.85.

Polar Power (NASDAQ:POLA) last released its earnings results on Thursday, August 9th. The utilities provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $5.82 million during the quarter, compared to the consensus estimate of $5.50 million. Polar Power had a negative return on equity of 4.83% and a negative net margin of 6.28%. sell-side analysts anticipate that Polar Power will post 0.05 earnings per share for the current year.

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