Short Interest in Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Drops By 35.6%

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 28,193 shares, a drop of 35.6% from the January 15th total of 43,757 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 184,600 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 184,600 shares, the short-interest ratio is currently 0.2 days. Currently, 0.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Pioneer Power Solutions

A number of institutional investors and hedge funds have recently modified their holdings of PPSI. Geode Capital Management LLC lifted its position in Pioneer Power Solutions by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 112,226 shares of the company’s stock worth $531,000 after buying an additional 3,099 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Pioneer Power Solutions by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,693 shares of the company’s stock valued at $339,000 after acquiring an additional 6,143 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Pioneer Power Solutions by 40.2% in the 4th quarter. Renaissance Technologies LLC now owns 34,700 shares of the company’s stock worth $164,000 after acquiring an additional 9,948 shares during the last quarter. State Street Corp lifted its holdings in shares of Pioneer Power Solutions by 12.6% in the 4th quarter. State Street Corp now owns 34,028 shares of the company’s stock worth $161,000 after acquiring an additional 3,800 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Pioneer Power Solutions during the 3rd quarter worth about $94,000. Hedge funds and other institutional investors own 10.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PPSI. Lake Street Capital reiterated a “buy” rating and issued a $7.00 price target on shares of Pioneer Power Solutions in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pioneer Power Solutions in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Pioneer Power Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Pioneer Power Solutions Price Performance

PPSI stock opened at $4.10 on Friday. Pioneer Power Solutions has a 52 week low of $2.25 and a 52 week high of $5.70. The company has a quick ratio of 3.55, a current ratio of 4.62 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $4.43 and a two-hundred day simple moving average of $4.15. The firm has a market capitalization of $45.51 million, a P/E ratio of -8.91 and a beta of 1.41.

Pioneer Power Solutions (NASDAQ:PPSI) last posted its earnings results on Thursday, November 13th. The company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16). Pioneer Power Solutions had a net margin of 99.80% and a negative return on equity of 12.91%. The firm had revenue of $6.89 million for the quarter, compared to the consensus estimate of $6.59 million. Analysts anticipate that Pioneer Power Solutions will post 0.32 earnings per share for the current fiscal year.

Pioneer Power Solutions Company Profile

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.