Polar Power (NASDAQ:POLA) Downgraded to Hold at ValuEngine

ValuEngine downgraded shares of Polar Power (NASDAQ:POLA) from a buy rating to a hold rating in a research note released on Tuesday morning, ValuEngine reports.

Shares of Polar Power stock opened at $4.96 on Tuesday. The stock has a market cap of $12.76 million, a P/E ratio of 70.86 and a beta of 1.33. The company has a quick ratio of 1.92, a current ratio of 6.98 and a debt-to-equity ratio of 0.13. Polar Power has a 12-month low of $0.95 and a 12-month high of $5.00. The business’s 50 day moving average is $1.37 and its 200-day moving average is $1.93.

Polar Power (NASDAQ:POLA) last posted its quarterly earnings results on Monday, June 29th. The utilities provider reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.05. Polar Power had a negative net margin of 16.31% and a negative return on equity of 18.51%.

An institutional investor recently bought a new position in Polar Power stock. Renaissance Technologies LLC acquired a new stake in Polar Power Inc (NASDAQ:POLA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,447 shares of the utilities provider’s stock, valued at approximately $70,000. Renaissance Technologies LLC owned 0.29% of Polar Power as of its most recent SEC filing. 3.14% of the stock is owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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