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

Shares of Polar Power, Inc. (NASDAQ:POLA) are scheduled to reverse split before the market opens 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 Trading Down 13.1 %

POLA traded down $0.07 on Friday, hitting $0.46. 751,237 shares of the company’s stock traded hands, compared to its average volume of 125,688. The company’s 50 day simple moving average is $0.47 and its 200-day simple moving average is $0.44. Polar Power has a one year low of $0.32 and a one year high of $0.95. The firm has a market cap of $8.08 million, a price-to-earnings ratio of -0.98 and a beta of 0.94.

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

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Polar Power in a research note on Sunday, November 10th. They issued a “sell” rating on the stock.

Institutional Investors Weigh In On Polar Power

A hedge fund recently raised its stake in Polar Power stock. Bard Associates Inc. increased its stake in Polar Power, Inc. (NASDAQ:POLA) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 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.