Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Short Interest Update

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) was the target of a large growth in short interest in April. As of April 30th, there was short interest totaling 150,861 shares, a growth of 79.8% from the April 15th total of 83,890 shares. Based on an average daily trading volume, of 269,264 shares, the short-interest ratio is presently 0.6 days. Currently, 1.9% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Pioneer Power Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Pioneer Power Solutions presently has an average rating of “Hold” and a consensus price target of $7.00.

Pioneer Power Solutions Stock Down 0.7%

PPSI stock opened at $3.99 on Wednesday. The firm has a 50 day moving average of $3.38 and a 200 day moving average of $3.90. The stock has a market capitalization of $44.29 million, a PE ratio of -8.67 and a beta of 1.67. The company has a quick ratio of 3.94, a current ratio of 4.68 and a debt-to-equity ratio of 0.01. Pioneer Power Solutions has a 52 week low of $2.35 and a 52 week high of $5.70.

Pioneer Power Solutions (NASDAQ:PPSI) last released its earnings results on Friday, May 15th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.11). The company had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.70 million. Pioneer Power Solutions had a negative return on equity of 22.96% and a negative net margin of 30.13%. Sell-side analysts forecast that Pioneer Power Solutions will post -0.39 earnings per share for the current year.

Institutional Trading of Pioneer Power Solutions

A number of institutional investors have recently bought and sold shares of PPSI. State Street Corp raised its position in Pioneer Power Solutions by 12.6% during the 4th quarter. State Street Corp now owns 34,028 shares of the company’s stock worth $161,000 after buying an additional 3,800 shares during the last quarter. NewEdge Advisors LLC purchased a new position in Pioneer Power Solutions during the 3rd quarter worth approximately $94,000. Legacy Advisors LLC purchased a new position in Pioneer Power Solutions during the 3rd quarter worth approximately $69,000. XTX Topco Ltd purchased a new position in Pioneer Power Solutions during the 4th quarter worth approximately $65,000. Finally, Group One Trading LLC raised its position in Pioneer Power Solutions by 1,860.3% during the 3rd quarter. Group One Trading LLC now owns 11,762 shares of the company’s stock worth $51,000 after buying an additional 11,162 shares during the last quarter. 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.