Roth Capital lowered shares of Polar Power, Inc. (NASDAQ:POLA) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, reports. They currently have $5.00 price target on the utilities provider’s stock, down from their previous price target of $7.00.

Separately, Zacks Investment Research upgraded Polar Power from a sell rating to a hold rating in a report on Thursday, August 24th.

Polar Power (NASDAQ POLA) traded up $0.30 during mid-day trading on Tuesday, hitting $4.79. The company had a trading volume of 92,780 shares, compared to its average volume of 88,663. The company has a current ratio of 32.52, a quick ratio of 24.67 and a debt-to-equity ratio of 0.01. Polar Power has a 52-week low of $4.12 and a 52-week high of $11.50.

Polar Power (NASDAQ:POLA) last posted its quarterly earnings data on Monday, November 6th. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.06). The firm had revenue of $3.03 million during the quarter, compared to analysts’ expectations of $4.65 million. Polar Power had a net margin of 13.12% and a return on equity of 13.81%. The company’s revenue was down 59.6% on a year-over-year basis. research analysts expect that Polar Power will post -0.03 EPS for the current year.

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Several hedge funds have recently bought and sold shares of the stock. Malaga Cove Capital LLC purchased a new stake in shares of Polar Power in the 3rd quarter valued at $238,000. Foundry Partners LLC raised its holdings in shares of Polar Power by 9.5% in the 3rd quarter. Foundry Partners LLC now owns 193,390 shares of the utilities provider’s stock valued at $926,000 after buying an additional 16,715 shares during the period. Ingalls & Snyder LLC raised its holdings in shares of Polar Power by 69.2% in the 3rd quarter. Ingalls & Snyder LLC now owns 51,617 shares of the utilities provider’s stock valued at $247,000 after buying an additional 21,117 shares during the period. Vanguard Group Inc. raised its holdings in shares of Polar Power by 125.5% in the 2nd 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 during the period. Finally, Heartland Advisors Inc. grew its stake in Polar Power by 16.7% during the 2nd quarter. Heartland Advisors Inc. now owns 175,000 shares of the utilities provider’s stock worth $929,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 7.11% of the company’s stock.

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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