Short Interest in Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Rises By 20.3%

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) saw a large growth in short interest in February. As of February 13th, there was short interest totaling 33,928 shares, a growth of 20.3% from the January 29th total of 28,193 shares. Based on an average daily volume of 113,589 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.4% of the shares of the company are short sold. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 113,589 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

PPSI has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Pioneer Power Solutions in a research note on Thursday, January 22nd. Lake Street Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of Pioneer Power Solutions in a report on Friday, November 14th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Pioneer Power Solutions currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Pioneer Power Solutions Stock Performance

NASDAQ PPSI opened at $3.70 on Thursday. The business has a 50 day moving average price of $4.39 and a 200 day moving average price of $4.21. The company has a market capitalization of $41.07 million, a P/E ratio of -8.04 and a beta of 1.46. Pioneer Power Solutions has a 1-year low of $2.25 and a 1-year high of $5.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.62 and a quick ratio of 3.55.

Hedge Funds Weigh In On Pioneer Power Solutions

Hedge funds have recently added to or reduced their stakes in the business. Group One Trading LLC raised its position in Pioneer Power Solutions by 1,860.3% during the third quarter. Group One Trading LLC now owns 11,762 shares of the company’s stock worth $51,000 after acquiring an additional 11,162 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Pioneer Power Solutions in the second quarter valued at approximately $55,000. Smith Moore & CO. purchased a new position in shares of Pioneer Power Solutions during the 4th quarter worth approximately $61,000. Legacy Advisors LLC purchased a new position in shares of Pioneer Power Solutions during the 3rd quarter worth approximately $69,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Pioneer Power Solutions during the 3rd quarter worth approximately $94,000. 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.