Polar Power (NASDAQ:POLA) Shares Pass Below 50 Day Moving Average – Here’s Why

Polar Power, Inc. (NASDAQ:POLA) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.54 and traded as low as $1.24. Polar Power shares last traded at $1.28, with a volume of 65,971 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen raised shares of Polar Power from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings downgraded Polar Power from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Polar Power Price Performance

The business’s 50-day moving average price is $1.53 and its two-hundred day moving average price is $1.70. The company has a market capitalization of $5.39 million, a P/E ratio of -0.36 and a beta of 1.20.

Polar Power (NASDAQ:POLA) last announced its quarterly earnings results on Tuesday, August 18th. The utilities provider reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.14. The company had revenue of $1.02 million during the quarter, compared to analyst estimates of $3.80 million. Polar Power had a negative net margin of 207.92% and a negative return on equity of 610.87%.

About Polar Power

Polar Power, Inc designs, manufactures and sells direct-current power systems for telecommunications, industrial, commercial, residential, military and other applications. Its systems are intended to provide primary or backup power in locations where reliable electricity is limited, unavailable or subject to interruption.

The company’s product portfolio includes DC generator systems powered by fuels such as natural gas, liquefied petroleum gas and diesel, along with hybrid power solutions that can incorporate renewable energy and battery storage.