StockNews.com Initiates Coverage on Polar Power (NASDAQ:POLA)

StockNews.com assumed coverage on shares of Polar Power (NASDAQ:POLA) in a research report issued on Wednesday. The brokerage set a “sell” rating on the utilities provider’s stock.

Polar Power Price Performance

POLA opened at $2.90 on Wednesday. Polar Power has a fifty-two week low of $2.24 and a fifty-two week high of $4.90. The firm’s fifty day moving average price is $3.05 and its two-hundred day moving average price is $3.11. The company has a market capitalization of $7.28 million, a P/E ratio of -1.26 and a beta of 0.95.

Hedge Funds Weigh In On Polar Power

A hedge fund recently raised its stake in Polar Power stock. Bard Associates Inc. lifted its stake in shares of Polar Power, Inc. (NASDAQ:POLA) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,009,123 shares of the utilities provider’s stock after purchasing an additional 210,000 shares during the quarter. Bard Associates Inc. owned 17.14% of Polar Power worth $1,435,000 as of its most recent SEC filing. 26.10% of the stock is owned by hedge funds and other institutional investors.

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.