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

Polar Power, Inc. (NASDAQ:POLA)’s stock is set 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 Price Performance

Shares of NASDAQ:POLA traded down $0.07 on Friday, reaching $0.46. 751,237 shares of the company traded hands, compared to its average volume of 125,688. The stock has a market capitalization of $8.08 million, a PE ratio of -0.98 and a beta of 0.94. The company’s 50 day moving average is $0.47 and its 200-day moving average is $0.44. Polar Power has a fifty-two week low of $0.32 and a fifty-two week high of $0.95.

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

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of 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

A hedge fund recently raised its stake in Polar Power stock. Bard Associates Inc. grew its holdings in Polar Power, Inc. (NASDAQ:POLA) by 7.5% in the third quarter, according to its most recent Form 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 period. Bard Associates Inc. owned approximately 17.14% of Polar Power worth $1,435,000 as of its most recent SEC filing. 26.10% of the stock is owned by institutional investors.

Polar Power Company Profile

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.