Brokerages Anticipate Polar Power Inc (POLA) to Post $0.02 EPS

Polar Power Inc (NASDAQ:POLA) has been given a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.

Analysts have set a twelve-month consensus price objective of $6.00 for the company and are forecasting that the company will post $0.02 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Polar Power an industry rank of 108 out of 255 based on the ratings given to its competitors.

A number of research analysts have recently weighed in on POLA shares. ValuEngine raised shares of Polar Power from a “sell” rating to a “hold” rating in a research note on Friday, April 27th. Zacks Investment Research cut shares of Polar Power from a “hold” rating to a “sell” rating in a research note on Friday, May 18th. Finally, TheStreet cut shares of Polar Power from a “c-” rating to a “d” rating in a research note on Monday, June 11th.

Shares of Polar Power traded up $0.02, reaching $6.42, during mid-day trading on Friday, according to 64,605 shares of the company’s stock were exchanged, compared to its average volume of 4,066. Polar Power has a 52-week low of $4.01 and a 52-week high of $6.85.

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

A hedge fund recently raised its stake in Polar Power stock. Bard Associates Inc. boosted its position in Polar Power Inc (NASDAQ:POLA) by 11.7% in the 1st quarter, according to 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 period. Bard Associates Inc. owned about 1.09% of Polar Power worth $550,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 6.94% 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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