Polar Power (NASDAQ:POLA) Shares Scheduled to Reverse Split on Tuesday, November 19th

Polar Power, Inc. (NASDAQ:POLA) shares are scheduled to reverse split on the morning of Tuesday, November 19th. The 1-7 reverse split was announced on Friday, November 15th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, November 18th.

Polar Power Price Performance

Polar Power stock traded down $0.07 during midday trading on Friday, reaching $0.46. The company had a trading volume of 751,237 shares, compared to its average volume of 125,688. Polar Power has a 12-month low of $0.32 and a 12-month high of $0.95. The company has a market capitalization of $8.08 million, a P/E ratio of -0.98 and a beta of 0.94. The firm’s fifty day simple moving average is $0.47 and its 200-day simple moving average is $0.44.

Polar Power (NASDAQ:POLA) last announced its earnings results on Wednesday, August 14th. The utilities provider reported $0.03 EPS for the quarter. The business had revenue of $4.66 million during the quarter. Polar Power had a negative return on equity of 52.52% and a negative net margin of 55.56%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Polar Power in a research note on Sunday, November 10th. They set a “sell” rating on the stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Polar Power stock. Bard Associates Inc. grew its stake in Polar Power, Inc. (NASDAQ:POLA) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,009,123 shares of the utilities provider’s stock after acquiring an additional 210,000 shares during the quarter. Bard Associates Inc. owned about 17.14% of Polar Power worth $1,435,000 as of its most recent SEC filing. 26.10% of the stock is owned by institutional investors.

Polar Power Company Profile

Polar Power, Inc designs, manufactures, and sells direct current (DC) power generators, renewable energy, and cooling systems in the United States and internationally. The company offers DC base power systems, DC hybrid power systems, DC solar hybrid power systems, and mobile power systems. Its DC power systems are available in diesel, natural gas, LPG/propane, and renewable fuel formats.