Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Short Interest Down 31.9% in March

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 67,400 shares, a decline of 31.9% from the March 15th total of 99,000 shares. Based on an average daily trading volume, of 58,500 shares, the short-interest ratio is presently 1.2 days. Currently, 0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Pioneer Power Solutions in a report on Wednesday.

Pioneer Power Solutions Price Performance

PPSI traded up $0.06 on Friday, reaching $2.70. The company had a trading volume of 54,640 shares, compared to its average volume of 92,038. The company has a market capitalization of $29.74 million, a P/E ratio of -3.97 and a beta of 0.60. The company has a current ratio of 1.41, a quick ratio of 0.69 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $3.15 and a 200-day moving average of $4.42. Pioneer Power Solutions has a one year low of $2.25 and a one year high of $7.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in Pioneer Power Solutions during the 3rd quarter valued at $49,000. Jane Street Group LLC bought a new position in Pioneer Power Solutions during the third quarter valued at about $51,000. Occudo Quantitative Strategies LP bought a new position in Pioneer Power Solutions during the fourth quarter valued at about $64,000. XTX Topco Ltd bought a new stake in Pioneer Power Solutions in the third quarter worth about $77,000. Finally, Two Sigma Securities LLC acquired a new stake in Pioneer Power Solutions in the 4th quarter valued at about $78,000. Institutional investors and hedge funds own 10.92% of the company’s stock.

Pioneer Power Solutions Company Profile

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 through Electrical Infrastructure Equipment and Critical Power Solutions segments.