Polar Power (NASDAQ:POLA) Lifted to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Polar Power (NASDAQ:POLA) from a hold rating to a strong-buy rating in a research report released on Friday morning, Zacks.com reports. Zacks Investment Research currently has $4.25 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. “

POLA has been the subject of several other reports. TheStreet downgraded Polar Power from a c- rating to a d rating in a research note on Thursday, June 6th. ValuEngine upgraded Polar Power from a hold rating to a buy rating in a research note on Wednesday, July 3rd.

POLA stock opened at $3.30 on Friday. The stock has a 50-day moving average price of $4.30 and a 200-day moving average price of $4.48. Polar Power has a 1-year low of $3.30 and a 1-year high of $6.43. The company has a current ratio of 6.96, a quick ratio of 3.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $36.50 million, a PE ratio of -41.25 and a beta of 0.26.

Polar Power (NASDAQ:POLA) last issued its earnings results on Monday, August 12th. The utilities provider reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.05. The company had revenue of $9.24 million during the quarter, compared to the consensus estimate of $7.00 million. Polar Power had a negative return on equity of 0.51% and a negative net margin of 0.38%. On average, analysts forecast that Polar Power will post 0.11 earnings per share for the current year.

A hedge fund recently bought a new stake in Polar Power stock. Granite Investment Partners LLC purchased a new stake in shares of Polar Power Inc (NASDAQ:POLA) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 80,919 shares of the utilities provider’s stock, valued at approximately $365,000. Granite Investment Partners LLC owned about 0.80% of Polar Power as of its most recent filing with the SEC. Institutional investors own 6.91% of the company’s stock.

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.

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