Polar Power (NASDAQ:POLA) Releases Earnings Results, Beats Expectations By $0.05 EPS

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Polar Power (NASDAQ:POLA) announced its quarterly earnings results on Monday. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05, Morningstar.com reports. Polar Power had a negative net margin of 1.68% and a negative return on equity of 2.01%. The firm had revenue of $9.24 million for the quarter, compared to the consensus estimate of $7.00 million.

Shares of POLA opened at $5.00 on Tuesday. The company has a 50 day moving average of $4.37. The stock has a market capitalization of $41.38 million, a P/E ratio of -62.50 and a beta of 0.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.55 and a quick ratio of 3.83. Polar Power has a 1-year low of $3.45 and a 1-year high of $6.65.

An institutional investor recently raised its position in Polar Power stock. Kirr Marbach & Co. LLC IN boosted its stake in Polar Power Inc (NASDAQ:POLA) by 21.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,000 shares of the utilities provider’s stock after purchasing an additional 4,000 shares during the quarter. Kirr Marbach & Co. LLC IN owned about 0.23% of Polar Power worth $104,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 7.29% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on POLA. ValuEngine raised shares of Polar Power from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. TheStreet downgraded shares of Polar Power from a “c-” rating to a “d” rating in a research note on Thursday, June 6th. Finally, Zacks Investment Research raised shares of Polar Power from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 3rd.

Polar Power Company Profile

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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Earnings History for Polar Power (NASDAQ:POLA)

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