Polar Power, Inc. (NASDAQ:POLA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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. “

Separately, Roth Capital set a $7.00 price objective on Polar Power and gave the stock a “buy” rating in a research report on Wednesday, August 9th.

Shares of Polar Power (POLA) opened at 4.45 on Wednesday. The company has a market cap of $45.14 million and a price-to-earnings ratio of 10.72. The stock has a 50 day moving average of $5.05 and a 200 day moving average of $6.38. Polar Power has a 52-week low of $4.12 and a 52-week high of $11.50.

Polar Power (NASDAQ:POLA) last released its quarterly earnings data 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 business had revenue of $2.50 million during the quarter, compared to analyst estimates of $5.25 million. The business’s revenue for the quarter was down 46.8% on a year-over-year basis. On average, equities research analysts expect that Polar Power will post $0.13 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Foundry Partners LLC increased 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 during the last quarter. Heartland Advisors Inc. increased its position in shares of Polar Power by 16.7% in the second quarter. Heartland Advisors Inc. now owns 175,000 shares of the utilities provider’s stock valued at $929,000 after buying an additional 25,000 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Polar Power by 17.4% in the first quarter. Russell Investments Group Ltd. now owns 93,365 shares of the utilities provider’s stock valued at $775,000 after buying an additional 13,832 shares during the last quarter. Rice Hall James & Associates LLC increased its position in shares of Polar Power by 1.0% in the second quarter. Rice Hall James & Associates LLC now owns 75,871 shares of the utilities provider’s stock valued at $403,000 after buying an additional 787 shares during the last quarter. Finally, Vanguard Group Inc. increased 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 during the last quarter. 8.46% of the stock is 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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