Pioneer Power Solutions, Inc. (PPSI) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Pioneer Power Solutions, Inc. (NASDAQ:PPSI) from a sell rating to a hold rating in a report published on Tuesday.

According to Zacks, “Pioneer Power Solutions, Inc. is specialty manufacturer of electrical transmission and distribution equipment. The company provide solutions in the utility, industrial and commercial segments of the electrical transmission and distribution industry. It operates primarily in the U.S., Canada and Mexico. Pioneer Power Solutions, Inc. is headquartered in Fort Lee, New Jersey. “

Separately, ValuEngine cut shares of Pioneer Power Solutions from a strong-buy rating to a buy rating in a report on Saturday, June 3rd.

Shares of Pioneer Power Solutions (PPSI) traded up 2.46% during midday trading on Tuesday, hitting $6.25. 8,322 shares of the company traded hands. Pioneer Power Solutions has a 52 week low of $4.85 and a 52 week high of $9.40. The stock’s market capitalization is $54.45 million. The company has a 50-day moving average price of $6.53 and a 200-day moving average price of $7.06.

Pioneer Power Solutions (NASDAQ:PPSI) last posted its earnings results on Thursday, May 11th. The industrial products company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. Pioneer Power Solutions had a net margin of 0.49% and a return on equity of 2.02%. The company had revenue of $27.26 million during the quarter, compared to analysts’ expectations of $29 million. Analysts anticipate that Pioneer Power Solutions will post $0.60 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. North Star Investment Management Corp. raised its stake in Pioneer Power Solutions by 0.8% in the second quarter. North Star Investment Management Corp. now owns 401,175 shares of the industrial products company’s stock worth $2,628,000 after buying an additional 3,200 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Pioneer Power Solutions during the first quarter valued at approximately $260,000. Kennedy Capital Management Inc. raised its stake in Pioneer Power Solutions by 14.6% in the first quarter. Kennedy Capital Management Inc. now owns 321,828 shares of the industrial products company’s stock valued at $2,414,000 after buying an additional 41,069 shares in the last quarter. Finally, Heartland Advisors Inc. raised its stake in Pioneer Power Solutions by 16.8% in the first quarter. Heartland Advisors Inc. now owns 350,500 shares of the industrial products company’s stock valued at $2,629,000 after buying an additional 50,500 shares in the last quarter. Hedge funds and other institutional investors own 18.83% of the company’s stock.

About Pioneer Power Solutions

Pioneer Power Solutions, Inc manufactures, sells and services a range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company operates through two segments: Transmission & Distribution Solutions (T&D Solutions) and Critical Power Solutions (Critical Power).

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