StockNews.com Initiates Coverage on Polar Power (NASDAQ:POLA)

Research analysts at StockNews.com assumed coverage on shares of Polar Power (NASDAQ:POLA – Get Rating) in a research note issued on Wednesday. The firm set a “sell” rating on the utilities provider’s stock.

Polar Power Stock Down 3.0 %

POLA opened at $1.30 on Wednesday. The business has a 50 day moving average price of $1.24 and a two-hundred day moving average price of $1.58. Polar Power has a 52 week low of $1.00 and a 52 week high of $4.02.

Polar Power (NASDAQ:POLA – Get Rating) last issued its earnings results on Monday, May 15th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $4.19 million for the quarter. Polar Power had a negative return on equity of 29.29% and a negative net margin of 33.72%.

Hedge Funds Weigh In On Polar Power

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in Polar Power by 5.7% in the 1st quarter. Renaissance Technologies LLC now owns 107,385 shares of the utilities provider’s stock valued at $344,000 after purchasing an additional 5,785 shares in the last quarter. Baird Financial Group Inc. increased its stake in Polar Power by 3.8% in the 3rd quarter. Baird Financial Group Inc. now owns 316,055 shares of the utilities provider’s stock valued at $781,000 after purchasing an additional 11,600 shares in the last quarter. Virtu Financial LLC purchased a new position in Polar Power in the 3rd quarter valued at approximately $39,000. Vanguard Group Inc. increased its stake in Polar Power by 87.0% in the 3rd quarter. Vanguard Group Inc. now owns 232,896 shares of the utilities provider’s stock valued at $575,000 after purchasing an additional 108,367 shares in the last quarter. Finally, Bard Associates Inc. increased its stake in Polar Power by 154.9% in the 4th quarter. Bard Associates Inc. now owns 239,733 shares of the utilities provider’s stock valued at $309,000 after purchasing an additional 145,700 shares in the last quarter. 7.56% of the stock is owned by hedge funds and other institutional investors.

Polar Power Company Profile

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Polar Power, Inc engages in the design, manufacture, and sell of direct current (DC) power systems. Its products include DC generators, Back-up DC generators, hybrid power systems, Li-Ion battery system, and Marine DC generators. The company was founded by Arthur D. Sams in 1979 and is headquartered in Gardena, CA.