Polar Power, Inc. (NASDAQ:POLA) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus price target of $7.00 for the company and are predicting that the company will post $0.04 EPS for the current quarter, according to Zacks. Zacks has also assigned Polar Power an industry rank of 94 out of 265 based on the ratings given to related companies.

POLA has been the topic of several research analyst reports. Zacks Investment Research cut shares of Polar Power from a “buy” rating to a “sell” rating in a research note on Thursday, May 4th. Roth Capital set a $7.00 price target on shares of Polar Power and gave the company a “buy” rating in a research note on Wednesday, August 2nd.

Shares of Polar Power (NASDAQ:POLA) opened at 4.33 on Friday. The company’s 50-day moving average price is $5.28 and its 200 day moving average price is $6.65. Polar Power has a one year low of $4.12 and a one year high of $11.50. The company has a market cap of $43.92 million and a PE ratio of 10.61.

Polar Power (NASDAQ:POLA) last released its quarterly earnings results on Tuesday, August 8th. The utilities provider reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.08. The firm had revenue of $2.50 million for the quarter, compared to analyst estimates of $5.25 million. The company’s revenue was down 46.8% compared to the same quarter last year. Equities analysts forecast that Polar Power will post $0.22 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in POLA. Heartland Advisors Inc. acquired a new position in shares of Polar Power during the first quarter valued at $1,245,000. Rice Hall James & Associates LLC acquired a new position in shares of Polar Power during the first quarter valued at $623,000. Foundry Partners LLC raised its position in shares of Polar Power by 51.6% in the second 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 in the last quarter. Vanguard Group Inc. raised its position in shares of Polar Power by 125.5% in the second quarter. Vanguard Group Inc. now owns 72,306 shares of the utilities provider’s stock valued at $384,000 after buying an additional 40,237 shares in the last quarter. Finally, Ingalls & Snyder LLC acquired a new position in shares of Polar Power during the second quarter valued at $162,000. 12.75% of the stock is currently owned by institutional investors and hedge funds.

About Polar Power

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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