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

Posted by Doug Wharley on Nov 15th, 2024

Shares of Polar Power, Inc. (NASDAQ:POLA – Free Report) 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 closing bell on Monday, November 18th.

Polar Power Stock Performance

NASDAQ POLA traded down $0.07 during trading hours on Friday, reaching $0.46. 751,237 shares of the company’s stock were exchanged, compared to its average volume of 125,688. The company’s 50-day moving average is $0.47 and its two-hundred day moving average is $0.44. Polar Power has a one year low of $0.32 and a one year high of $0.95. The company has a market capitalization of $8.08 million, a price-to-earnings ratio of -0.98 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Report on Polar Power

Hedge Funds Weigh In On Polar Power

A hedge fund recently raised its stake in Polar Power stock. Bard Associates Inc. boosted its stake in shares of Polar Power, Inc. (NASDAQ:POLA – Free Report) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 about 17.14% of Polar Power worth $1,435,000 at the end of the most recent reporting period. 26.10% of the stock is owned by institutional investors and hedge funds.

About Polar Power

(Get Free Report)

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.