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 the morning of 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 Stock Performance

POLA stock traded down $0.07 during trading on Friday, reaching $0.46. 751,237 shares of the company traded hands, compared to its average volume of 125,688. The company has a market capitalization of $8.08 million, a price-to-earnings ratio of -0.98 and a beta of 0.94. The business has a 50 day simple moving average of $0.47 and a 200 day simple moving average of $0.44. Polar Power has a 12 month low of $0.32 and a 12 month high of $0.95.

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

Analysts Set New Price Targets

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

Institutional Trading of Polar Power

An institutional investor recently raised its position in Polar Power stock. Bard Associates Inc. lifted its holdings in shares of Polar Power, Inc. (NASDAQ:POLA) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,009,123 shares of the utilities provider’s stock after buying an additional 210,000 shares during the quarter. 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 and hedge funds.

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.