Pioneer Power Solutions (NASDAQ:PPSI) Stock Price Up 6.5%

Pioneer Power Solutions, Inc. (NASDAQ:PPSI)’s share price shot up 6.5% on Thursday . The stock traded as high as $3.94 and last traded at $3.92. 111,101 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 126,930 shares. The stock had previously closed at $3.68.

Analysts Set New Price Targets

Several research firms have weighed in on PPSI. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Pioneer Power Solutions in a research note on Tuesday, April 2nd. Lake Street Capital dropped their price objective on shares of Pioneer Power Solutions from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd.

Pioneer Power Solutions Price Performance

The company has a quick ratio of 1.33, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $38.73 million, a P/E ratio of 21.67 and a beta of 0.55. The company’s 50-day simple moving average is $4.85 and its 200 day simple moving average is $5.39.

Institutional Trading of Pioneer Power Solutions

Several large investors have recently added to or reduced their stakes in PPSI. Jump Financial LLC bought a new stake in shares of Pioneer Power Solutions during the 3rd quarter worth $67,000. FNY Investment Advisers LLC bought a new stake in Pioneer Power Solutions in the 4th quarter valued at $70,000. Quadrature Capital Ltd bought a new stake in Pioneer Power Solutions in the 4th quarter valued at $109,000. Acadian Asset Management LLC boosted its holdings in Pioneer Power Solutions by 201.1% in the 3rd quarter. Acadian Asset Management LLC now owns 22,732 shares of the company’s stock valued at $141,000 after purchasing an additional 15,183 shares during the period. Finally, Thompson Davis & CO. Inc. bought a new stake in Pioneer Power Solutions in the 4th quarter valued at $221,000. 10.92% of the stock is owned by institutional investors.

About Pioneer Power Solutions

Pioneer Power Solutions, Inc, together with its subsidiaries, design, manufacture, integrate, refurbish, distribute, sell, and service electric power systems, distributed energy resources, power generation equipment, and mobile EV charging solutions. The company operates in two segments, Transmission & Distribution Solutions and Critical Power Solutions.