Polar Power (NASDAQ:POLA) Shares Down 1.1% – Here’s What Happened

Polar Power, Inc. (NASDAQ:POLA)’s share price traded down 1.1% during mid-day trading on Monday . The stock traded as low as $1.84 and last traded at $1.87. 18,114 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 80,614 shares. The stock had previously closed at $1.89.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on Polar Power in a research note on Wednesday, May 21st. They issued a “sell” rating for the company.

Polar Power Trading Down 1.1%

The firm has a market capitalization of $4.69 million, a P/E ratio of -0.81 and a beta of 0.25. The firm has a 50 day moving average price of $1.81 and a 200-day moving average price of $2.38.

Polar Power (NASDAQ:POLA) last issued its quarterly earnings results on Thursday, May 15th. The utilities provider reported ($0.50) EPS for the quarter. The firm had revenue of $1.72 million for the quarter. Polar Power had a negative net margin of 27.30% and a negative return on equity of 39.10%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Polar Power stock. Bard Associates Inc. lifted its position in Polar Power, Inc. (NASDAQ:POLA) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 446,745 shares of the utilities provider’s stock after purchasing an additional 14,800 shares during the quarter. Bard Associates Inc. owned about 17.79% of Polar Power worth $1,081,000 as of its most recent SEC filing. 26.10% of the stock is currently owned by hedge funds and other 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.