Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Sees Large Decline in Short Interest

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) was the recipient of a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 28,193 shares, a decline of 35.6% from the January 15th total of 43,757 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 184,600 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 184,600 shares, the short-interest ratio is presently 0.2 days. Currently, 0.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PPSI. Weiss Ratings reiterated a “hold (c)” rating on shares of Pioneer Power Solutions in a research report on Thursday, January 22nd. Lake Street Capital reiterated a “buy” rating and set a $7.00 target price on shares of Pioneer Power Solutions in a research report on Friday, November 14th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Pioneer Power Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Pioneer Power Solutions Price Performance

NASDAQ:PPSI traded up $0.13 during trading hours on Friday, hitting $4.07. The company’s stock had a trading volume of 39,880 shares, compared to its average volume of 154,670. Pioneer Power Solutions has a twelve month low of $2.25 and a twelve month high of $5.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.62 and a quick ratio of 3.55. The stock has a fifty day simple moving average of $4.43 and a 200-day simple moving average of $4.15. The company has a market capitalization of $45.12 million, a P/E ratio of -8.84 and a beta of 1.41.

Pioneer Power Solutions (NASDAQ:PPSI) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). Pioneer Power Solutions had a net margin of 99.80% and a negative return on equity of 12.91%. The company had revenue of $6.89 million for the quarter, compared to the consensus estimate of $6.59 million. On average, analysts anticipate that Pioneer Power Solutions will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Pioneer Power Solutions

Hedge funds have recently added to or reduced their stakes in the business. Group One Trading LLC increased its position in Pioneer Power Solutions by 1,860.3% in the 3rd quarter. Group One Trading LLC now owns 11,762 shares of the company’s stock valued at $51,000 after acquiring an additional 11,162 shares during the period. Smith Moore & CO. bought a new position in Pioneer Power Solutions during the 4th quarter worth $61,000. Legacy Advisors LLC acquired a new position in Pioneer Power Solutions during the 3rd quarter worth about $69,000. XTX Topco Ltd bought a new stake in shares of Pioneer Power Solutions in the 2nd quarter valued at about $55,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Pioneer Power Solutions in the third quarter valued at about $94,000. 10.92% of the stock is currently owned by institutional investors and hedge funds.

About Pioneer Power Solutions

Pioneer Power Solutions, Inc (NASDAQ: PPSI) is a specialized provider of electrical power infrastructure services and equipment. Through its subsidiaries, Pioneer Transformer and Pioneer Environmental Services, the company offers engineering, manufacturing, repair, and refurbishment solutions for power transformers, reactors and related substation components. Its product portfolio spans new transformer builds, on-site maintenance, retrofits and upgrades designed to extend equipment life and optimize performance for a broad range of voltage ratings.

In addition to its core transformer and reactor business, Pioneer Power Solutions provides environmental services that focus on the reclamation, recycling and remediation of dielectric fluids, including polychlorinated biphenyls (PCBs) and other regulated materials.