Polar Power, Inc. (POLA) in Gardena, Calif., designs, manufactures, and sells direct current (DC), power generators, renewable energy, and cooling systems in the United States and internationally. It offers DC base power systems, DC hybrid power systems, and DC solar hybrid power systems. The shares of the green energy company have slumped 72.3% in price over the past year and 37.6% over the past six months. However, the stock has gained 18.9% over the past month to close the last trading session at $3.72.
While POLA has reported increasing demand for its DC power systems from its telecommunications customers, it is also focusing on diversifying its customer base and selling into non-telecommunication markets and applications. Over the last year, the company has invested in developing backup power systems with increased power that utilize larger engines and improved emission control systems. POLA believes that the rapid deployment of 5G networks should enhance its market opportunities. Furthermore, the company is innovating its products to capitalize on the EV charging space and plans to develop new configurations of DC power systems, battery storage, and solar products, which should drive growth.
