Zacks Investment Research upgraded shares of Polar Power (NASDAQ:POLA) from a hold rating to a buy rating in a report published on Wednesday. They currently have $6.50 target price on the utilities provider’s stock.
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, ValuEngine raised shares of Polar Power from a hold rating to a buy rating in a report on Wednesday, October 3rd.
Polar Power (NASDAQ:POLA) last announced its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $5.82 million during the quarter, compared to analyst estimates of $5.50 million. Polar Power had a negative net margin of 6.28% and a negative return on equity of 4.84%. On average, research analysts forecast that Polar Power will post 0.07 EPS for the current fiscal year.
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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