Pioneer Power Solutions (NASDAQ:PPSI) Stock Price Up 1% – Here’s What Happened

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) was up 1% during mid-day trading on Monday . The stock traded as high as $3.10 and last traded at $2.94. Approximately 64,582 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 60,400 shares. The stock had previously closed at $2.91.

Wall Street Analysts Forecast Growth

PPSI has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Pioneer Power Solutions in a research note on Friday, July 10th. Wall Street Zen lowered shares of Pioneer Power Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.00.

Pioneer Power Solutions Trading Up 1.0%

The firm’s 50 day moving average is $3.93 and its 200 day moving average is $3.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.68 and a quick ratio of 3.53. The company has a market cap of $32.63 million, a PE ratio of -5.88 and a beta of 1.85.

Pioneer Power Solutions (NASDAQ:PPSI) last posted its earnings results on Monday, May 18th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.11). The firm had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.70 million. Pioneer Power Solutions had a negative return on equity of 22.96% and a negative net margin of 30.13%. On average, equities analysts anticipate that Pioneer Power Solutions, Inc. will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Pioneer Power Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PPSI. Spectrum Investment Advisors Inc. bought a new position in Pioneer Power Solutions in the 4th quarter worth about $650,000. Geode Capital Management LLC boosted its position in shares of Pioneer Power Solutions by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 112,226 shares of the company’s stock valued at $531,000 after acquiring an additional 3,099 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 worth $251,000 after purchasing an additional 5,530 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pioneer Power Solutions by 85.0% during the first quarter. Renaissance Technologies LLC now owns 64,200 shares of the company’s stock worth $209,000 after purchasing an additional 29,500 shares in the last quarter. Finally, State Street Corp increased its position in shares of Pioneer Power Solutions by 12.6% in the fourth quarter. State Street Corp now owns 34,028 shares of the company’s stock worth $161,000 after purchasing an additional 3,800 shares during the last quarter. 10.92% of the stock is currently owned by hedge funds and other institutional investors.

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.