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

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 shares of Polar Power and gave the company a “buy” rating in a report on Wednesday, August 2nd.

Shares of Polar Power (NASDAQ POLA) opened at 5.34 on Tuesday. The company has a market capitalization of $54.16 million and a price-to-earnings ratio of 12.87. The stock has a 50 day moving average of $4.94 and a 200-day moving average of $4.94. 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 Tuesday, August 8th. The utilities provider reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.08). The firm had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $5.25 million. The business’s quarterly revenue was down 46.8% on a year-over-year basis. On average, analysts anticipate that Polar Power will post $0.12 EPS for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Foundry Partners LLC increased its holdings in shares of Polar Power by 51.6% during the second quarter. Foundry Partners LLC now owns 176,675 shares of the utilities provider’s stock valued at $938,000 after acquiring an additional 60,124 shares in the last quarter. Heartland Advisors Inc. increased its holdings in shares of Polar Power by 16.7% during the second quarter. Heartland Advisors Inc. now owns 175,000 shares of the utilities provider’s stock valued at $929,000 after acquiring an additional 25,000 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Polar Power by 17.4% during the first quarter. Russell Investments Group Ltd. now owns 93,365 shares of the utilities provider’s stock valued at $775,000 after acquiring an additional 13,832 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Polar Power by 1.0% during the second quarter. Rice Hall James & Associates LLC now owns 75,871 shares of the utilities provider’s stock valued at $403,000 after acquiring an additional 787 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Polar Power by 125.5% during the second quarter. Vanguard Group Inc. now owns 72,306 shares of the utilities provider’s stock valued at $384,000 after acquiring an additional 40,237 shares in the last quarter. Hedge funds and other institutional investors own 8.46% of the company’s stock.

Polar Power Company Profile

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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