Polar Power, Inc. (POLA) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS
Polar Power, Inc. (NASDAQ:POLA) issued its earnings results on Tuesday. The utilities provider reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.08, Briefing.com reports. The firm had revenue of $2.50 million during the quarter, compared to the consensus estimate of $5.25 million. Polar Power’s quarterly revenue was down 46.8% compared to the same quarter last year.
Shares of Polar Power (POLA) traded up 3.67% during mid-day trading on Thursday, hitting $4.52. The stock had a trading volume of 96,783 shares. The firm has a market capitalization of $45.85 million and a price-to-earnings ratio of 8.45. Polar Power has a 1-year low of $4.12 and a 1-year high of $11.50. The stock’s 50-day moving average is $5.31 and its 200 day moving average is $6.69.
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Several brokerages have recently commented on POLA. Zacks Investment Research upgraded Polar Power from a “sell” rating to a “hold” rating in a research note on Friday, May 26th. Roth Capital set a $7.00 target price on Polar Power and gave the company a “buy” rating in a research note on Wednesday, August 2nd.
About Polar Power
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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