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

Polar Power, Inc. (NASDAQ:POLA) shares are going to reverse split on 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 Stock Down 13.1 %

Shares of Polar Power stock traded down $0.07 on Friday, hitting $0.46. 751,237 shares of the company traded hands, 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 50-day moving average price of $0.47 and a 200 day moving average price of $0.44. The company has a market cap of $8.08 million, a PE ratio of -0.98 and a beta of 0.94.

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

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Polar Power in a research note on Sunday, November 10th. They set a “sell” rating for the company.

Hedge Funds Weigh In On Polar Power

An institutional investor recently raised its position in Polar Power stock. Bard Associates Inc. raised its position in shares of Polar Power, Inc. (NASDAQ:POLA) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,009,123 shares of the utilities provider’s stock after buying an additional 210,000 shares during the quarter. Bard Associates Inc. owned about 17.14% of Polar Power worth $1,435,000 at the end of the most recent quarter. 26.10% of the stock is currently owned by institutional investors and hedge funds.

About Polar Power

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.