Polar Power (NASDAQ:POLA) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Polar Power, Inc. (NASDAQ:POLA) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.73 and traded as low as $1.64. Polar Power shares last traded at $1.78, with a volume of 76,326 shares traded.

Analysts Set New Price Targets

POLA has been the subject of several analyst reports. Weiss Ratings upgraded Polar Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Wall Street Zen raised Polar Power from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Polar Power currently has an average rating of “Sell”.

Polar Power Trading Down 5.3%

The business has a 50 day moving average price of $1.73 and a 200-day moving average price of $1.73. The firm has a market capitalization of $6.85 million, a PE ratio of -0.57 and a beta of 1.21.

Polar Power (NASDAQ:POLA) last posted its quarterly earnings results on Wednesday, May 20th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.58. Polar Power had a negative net margin of 127.53% and a negative return on equity of 259.19%. The company had revenue of $1.73 million during the quarter, compared to the consensus estimate of $3.80 million.

About Polar Power

Polar Power, Inc (NASDAQ: POLA) is a California-based designer and manufacturer of direct current (DC) power generation and distribution systems. The company’s primary offerings include solar hybrid power systems, DC gensets and DC power modules engineered to provide reliable, off-grid or grid-tied power solutions. These products are tailored to applications in telecommunications, military, oil and gas, and other industries requiring continuous, low-cost energy delivery in remote or critical-power environments.

Polar Power’s solar hybrid systems combine solar photovoltaic arrays with DC generators and battery storage to create integrated, turnkey power plants.