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

Pioneer Power Solutions, Inc. (NASDAQ:PPSI – Get Free Report) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 50,940 shares, a drop 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 presently 0.4 days. Currently, 0.6% of the shares of the stock are sold short.

Pioneer Power Solutions Price Performance

Shares of PPSI stock traded down $0.07 on Wednesday, reaching $2.83. The company’s stock had a trading volume of 41,869 shares, compared to its average volume of 146,752. The company has a market capitalization of $31.41 million, a P/E ratio of -4.88 and a beta of 1.78. Pioneer Power Solutions has a 12-month low of $2.35 and a 12-month high of $6.29. The stock’s 50 day simple moving average is $3.07 and its 200-day simple moving average is $3.51. The company has a quick ratio of 2.92, a current ratio of 4.11 and a debt-to-equity ratio of 0.01.

Pioneer Power Solutions (NASDAQ:PPSI – Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $4.78 million. Pioneer Power Solutions had a negative return on equity of 27.64% and a negative net margin of 38.11%. As a group, equities analysts predict that Pioneer Power Solutions will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pioneer Power Solutions

A number of institutional investors have recently made changes to their positions in PPSI. Dimensional Fund Advisors LP boosted its position in shares of Pioneer Power Solutions by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 77,223 shares of the company’s stock valued at $251,000 after buying an additional 5,530 shares during the last quarter. Renaissance Technologies LLC raised its position in Pioneer Power Solutions by 85.0% in the 1st quarter. Renaissance Technologies LLC now owns 64,200 shares of the company’s stock worth $209,000 after buying an additional 29,500 shares during the last quarter. Finally, Group One Trading LLC raised its position in Pioneer Power Solutions by 577.9% in the 1st quarter. Group One Trading LLC now owns 8,928 shares of the company’s stock worth $29,000 after buying an additional 7,611 shares during the last quarter. Hedge funds and other institutional investors own 10.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating on shares of Pioneer Power Solutions in a research report on Tuesday, August 18th. Weiss Ratings lowered shares of Pioneer Power Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report 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, the company presently has an average rating of “Hold” and an average price target of $7.00.

View Our Latest Report on PPSI

About Pioneer Power Solutions

(Get Free Report)

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.

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