Polar Power (POLA) Upgraded to Buy at Zacks Investment Research

Polar Power (NASDAQ:POLA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $7.50 price target on the utilities provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 18.67% from the company’s current price.

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 research analysts also recently weighed in on the company. TheStreet downgraded Polar Power from a “c-” rating to a “d” rating in a research note on Monday, June 11th. ValuEngine raised Polar Power from a “sell” rating to a “hold” rating in a research note on Friday, April 27th.

Shares of Polar Power stock opened at $6.32 on Wednesday. Polar Power has a one year low of $4.01 and a one year high of $6.85. The stock has a market cap of $65.12 million, a P/E ratio of -78.38 and a beta of -0.80.

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

A hedge fund recently raised its stake in Polar Power stock. Bard Associates Inc. increased its position in shares of Polar Power Inc (NASDAQ:POLA) by 11.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 110,175 shares of the utilities provider’s stock after buying an additional 11,513 shares during the quarter. Bard Associates Inc. owned about 1.09% of Polar Power worth $550,000 at the end of the most recent quarter. 6.94% of the stock is owned by hedge funds and other institutional investors.

About Polar Power

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.

Recommended Story: Stock Symbol

Get a free copy of the Zacks research report on Polar Power (POLA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Polar Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Polar Power and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply