An interesting stock that came up in some of our conversations today is Polar Power, Inc. (NASDAQ:POLA). At current price of $4.03, the shares have already lost -0.97 points (-19.4% lower) from its previous close of $5. Should you buy or avoid them? The stock sets an active trading volume day with a reported 118356 contracts so far this session. POLA shares had a relatively better volume day versus average trading capacity of 15.16 million shares, but with a 3.88 million float and a 17.79% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for POLA stock indicates that the average analyst price target is $6.5 per share. This means the stock has a potential increase of 61.29% from where the POLA share price has been trading recently which is between $3.8989 and $5. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $8.
The shorts are climbing into Polar Power, Inc. (POLA) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a rise in short interest in POLA shares. While short interest still represents only 1.01% of POLA’s float, the number of shares shorted have risen by 31356. The number of shares shorted advanced to 70435 shares, up from 39079 shares during the preceding fortnight. With average daily trading volumes at 8299 shares, days to cover increased to about 2.884911 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Polar Power, Inc. (POLA) Surpasses Q2 Earnings and Revenue Estimates” and dated August 12, 2019.
During the recent trading session for Polar Power, Inc. (NASDAQ:POLA), the company witnessed their stock drop by $-0.1 over a week and tumble down $-0.4 from the price 20 days ago. When compared to their established 52-week high of $6.62, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/14/18. The recent low of $3.45 stood for a -39.4% since 07/06/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Polar Power, Inc., the two-week RSI stands at 44.42. This figure suggests that POLA stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current POLA readings is similarly very revealing as it has a stochastic reading of 49.14% at this stage. This figure means that POLA share price today is being neutral.
Technical chart claims that Polar Power, Inc. (POLA) would settle between $5.37/share to $5.73/share level. However, if the stock price goes below the $4.27 mark, then the market for Polar Power, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $3.53 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.1. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at ROTH Capital lowered their recommendation on shares of POLA from Buy to Neutral in their opinion released on November 07. ROTH Capital, analysts launched coverage of Polar Power, Inc. (NASDAQ:POLA) stock with a Buy recommendation, according to their flash note issued to investors on January 09.
POLA equity has an average rating of 2.5, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Polar Power, Inc. (NASDAQ:POLA) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, POLA stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.69 while for the average stock in the same group, the multiple is 4.19.
Polar Power, Inc. (POLA)’s current-quarter revenues are projected to climb by nearly 58.1% to hit $8 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 24.76% from $24.05 million to a noteworthy $30 million. At the other end of the current quarter income statement, Polar Power, Inc. is expected to see its adjusted earnings surge by roughly 157.14% to hit $0.04 per share. For the fiscal year, POLA’s earnings are projected to climb by roughly 225% to hit $0.1 per share.