Polar Power, Inc. (NASDAQ:POLA) Given a $7.00 Price Target at Roth Capital

Roth Capital set a $7.00 price objective on Polar Power, Inc. (NASDAQ:POLA) in a report published on Sunday, October 15th. The brokerage currently has a buy rating on the utilities provider’s stock.

Separately, Zacks Investment Research raised shares of Polar Power from a sell rating to a hold rating in a report on Wednesday, October 11th.

Shares of Polar Power (NASDAQ POLA) opened at 5.40 on Friday. The firm’s 50-day moving average price is $5.03 and its 200 day moving average price is $5.03. The company has a market cap of $54.77 million and a price-to-earnings ratio of 13.01. Polar Power has a 12-month low of $4.35 and a 12-month high of $10.69.

Polar Power (NASDAQ:POLA) last announced its earnings results on Tuesday, August 8th. The utilities provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The firm had revenue of $2.50 million for the quarter, compared to analyst estimates of $5.25 million. Polar Power’s revenue was down 46.8% compared to the same quarter last year. On average, analysts predict that Polar Power will post $0.12 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of POLA. Spark Investment Management LLC purchased a new position in Polar Power during the first quarter worth about $131,000. Ingalls & Snyder LLC purchased a new position in Polar Power during the second quarter worth about $162,000. Goldman Sachs Group Inc. raised its holdings in Polar Power by 112.3% during the first quarter. Goldman Sachs Group Inc. now owns 25,475 shares of the utilities provider’s stock worth $211,000 after purchasing an additional 13,475 shares in the last quarter. Vanguard Group Inc. raised its holdings in Polar Power by 125.5% during the second quarter. Vanguard Group Inc. now owns 72,306 shares of the utilities provider’s stock worth $384,000 after purchasing an additional 40,237 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in 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 worth $403,000 after purchasing an additional 787 shares in the last quarter. 8.46% of the stock is owned by hedge funds and other institutional investors.

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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