Polar Power (NASDAQ:POLA) Stock Price Up 0.6% – Here’s Why

Shares of Polar Power, Inc. (NASDAQ:POLA) were up 0.6% during trading on Thursday . The stock traded as high as $1.72 and last traded at $1.65. Approximately 16,280 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 71,049 shares. The stock had previously closed at $1.64.

Analysts Set New Price Targets

POLA has been the topic of a number of recent analyst reports. Weiss Ratings raised Polar Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 1st. Wall Street Zen raised Polar Power from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Polar Power Stock Performance

The firm has a fifty day moving average of $1.83 and a 200-day moving average of $1.75. The stock has a market capitalization of $6.26 million, a price-to-earnings ratio of -0.55 and a beta of 1.18.

Polar Power (NASDAQ:POLA) last released its quarterly earnings results on Wednesday, May 20th. The utilities provider reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.58. Polar Power had a negative net margin of 127.53% and a negative return on equity of 259.19%. The business had revenue of $1.73 million during the quarter, compared to analyst estimates of $3.80 million.

About Polar Power

Polar Power, Inc (NASDAQ: POLA) is a California-based designer and manufacturer of direct current (DC) power generation and distribution systems. The company’s primary offerings include solar hybrid power systems, DC gensets and DC power modules engineered to provide reliable, off-grid or grid-tied power solutions. These products are tailored to applications in telecommunications, military, oil and gas, and other industries requiring continuous, low-cost energy delivery in remote or critical-power environments.

Polar Power’s solar hybrid systems combine solar photovoltaic arrays with DC generators and battery storage to create integrated, turnkey power plants.