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

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totaling 50,940 shares, a decline of 53.7% from the September 15th total of 110,082 shares. Based on an average daily volume of 114,472 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.6% of the shares of the stock are sold short.

Pioneer Power Solutions Price Performance

NASDAQ PPSI traded down $0.09 during trading hours on Tuesday, hitting $2.87. 36,892 shares of the company’s stock traded hands, compared to its average volume of 147,224. Pioneer Power Solutions has a 52-week low of $2.35 and a 52-week high of $6.29. The company has a market capitalization of $31.80 million, a PE ratio of -4.94 and a beta of 1.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.11 and a quick ratio of 2.92. The firm’s 50-day moving average is $3.07 and its 200-day moving average is $3.51.

Pioneer Power Solutions (NASDAQ:PPSI) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The company had revenue of $5.02 million during the quarter, compared to analysts’ expectations of $4.78 million. Pioneer Power Solutions had a negative net margin of 38.11% and a negative return on equity of 27.64%. Equities analysts forecast that Pioneer Power Solutions will post -0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PPSI. Renaissance Technologies LLC raised its stake in shares of Pioneer Power Solutions by 85.0% in the 1st quarter. Renaissance Technologies LLC now owns 64,200 shares of the company’s stock valued at $209,000 after acquiring an additional 29,500 shares during the period. Group One Trading LLC boosted its position in shares of Pioneer Power Solutions by 577.9% during the 1st quarter. Group One Trading LLC now owns 8,928 shares of the company’s stock worth $29,000 after purchasing an additional 7,611 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Pioneer Power Solutions by 7.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 77,223 shares of the company’s stock worth $251,000 after purchasing an additional 5,530 shares during the period. Institutional investors and hedge funds own 10.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. HC Wainwright reissued a “buy” rating on shares of Pioneer Power Solutions in a research note on Tuesday, August 18th. Weiss Ratings cut shares of Pioneer Power Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pioneer Power Solutions currently has an average rating of “Hold” and a consensus price target of $7.00.

About Pioneer Power Solutions

Pioneer Power Solutions, Inc is an energy infrastructure company that provides electrical power equipment and related services in the United States. Its activities focus on distributed power generation, electrical distribution systems, microgrids and other solutions designed to support reliable and resilient electricity supply.

Through its operating businesses, the company designs, supplies, installs and services power-generation and electrical-infrastructure systems for commercial, industrial, institutional and other customers.