Bard Associates Inc. continued to hold its position in Polar Power, Inc. (NASDAQ:POLA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,200 shares of the utilities provider’s stock at the end of the second quarter. Bard Associates Inc. owned about 0.97% of Polar Power worth $521,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Spark Investment Management LLC bought a new position in Polar Power during the first quarter valued at $131,000. Goldman Sachs Group Inc. increased its position 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 valued at $211,000 after acquiring an additional 13,475 shares during the last quarter. Ingalls & Snyder LLC bought a new position in Polar Power during the second quarter valued at $162,000. Rice Hall James & Associates LLC increased its position 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 valued at $403,000 after acquiring an additional 787 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in 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 during the last quarter. Institutional investors and hedge funds own 8.46% of the company’s stock.
Shares of Polar Power, Inc. (NASDAQ POLA) opened at 4.70 on Tuesday. The stock has a market capitalization of $47.67 million and a price-to-earnings ratio of 11.33. The stock’s 50 day moving average is $4.75 and its 200-day moving average is $6.13. Polar Power, Inc. has a 52 week low of $4.12 and a 52 week high of $11.50.
Polar Power (NASDAQ:POLA) last issued its quarterly earnings data on Tuesday, August 8th. The utilities provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.08. The company had revenue of $2.50 million during the quarter, compared to analysts’ expectations of $5.25 million. Polar Power’s quarterly revenue was down 46.8% compared to the same quarter last year. On average, analysts anticipate that Polar Power, Inc. will post $0.13 earnings per share for the current fiscal year.
A number of research analysts have weighed in on POLA shares. Roth Capital set a $7.00 price objective on shares of Polar Power and gave the company a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Polar Power from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th.
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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