Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Sees Significant Decrease in Short Interest

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Lake Street Capital reiterated a “buy” rating and issued a $7.00 price objective on shares of Pioneer Power Solutions in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Pioneer Power Solutions in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Pioneer Power Solutions currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Institutional Investors Weigh In On Pioneer Power Solutions

Several institutional investors have recently added to or reduced their stakes in PPSI. Group One Trading LLC boosted its holdings in Pioneer Power Solutions by 1,860.3% in the third quarter. Group One Trading LLC now owns 11,762 shares of the company’s stock valued at $51,000 after purchasing an additional 11,162 shares in the last quarter. Smith Moore & CO. purchased a new stake in shares of Pioneer Power Solutions during the 4th quarter worth approximately $61,000. Legacy Advisors LLC acquired a new position in shares of Pioneer Power Solutions in the 3rd quarter valued at $69,000. XTX Topco Ltd purchased a new position in shares of Pioneer Power Solutions in the 2nd quarter valued at $55,000. Finally, NewEdge Advisors LLC acquired a new stake in Pioneer Power Solutions during the 3rd quarter worth $94,000. Hedge funds and other institutional investors own 10.92% of the company’s stock.

Pioneer Power Solutions Stock Up 4.1%

Pioneer Power Solutions stock traded up $0.16 during trading on Friday, reaching $4.10. The stock had a trading volume of 83,561 shares, compared to its average volume of 146,273. The company has a quick ratio of 3.55, a current ratio of 4.62 and a debt-to-equity ratio of 0.01. Pioneer Power Solutions has a 52-week low of $2.25 and a 52-week high of $5.70. The stock has a market cap of $45.51 million, a PE ratio of -8.91 and a beta of 1.41. The business has a 50 day moving average price of $4.43 and a 200 day moving average price of $4.16.

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

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.