Pioneer Power Solutions (NASDAQ:PPSI) Issues Earnings Results, Misses Estimates By $0.11 EPS

Pioneer Power Solutions (NASDAQ:PPSI) released its quarterly earnings data on Friday. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.11), FiscalAI reports. Pioneer Power Solutions had a negative net margin of 21.71% and a negative return on equity of 20.22%. The company had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.70 million.

Pioneer Power Solutions Price Performance

Shares of PPSI traded down $0.18 during midday trading on Friday, reaching $3.98. The stock had a trading volume of 195,562 shares, compared to its average volume of 161,830. Pioneer Power Solutions has a 52 week low of $2.35 and a 52 week high of $5.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.23 and a quick ratio of 3.94. The firm’s 50 day moving average price is $3.35 and its 200-day moving average price is $3.91. The company has a market capitalization of $44.18 million, a P/E ratio of -8.65 and a beta of 1.67.

Institutional Trading of Pioneer Power Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Group One Trading LLC raised its stake in shares of Pioneer Power Solutions by 1,860.3% in the 3rd quarter. Group One Trading LLC now owns 11,762 shares of the company’s stock worth $51,000 after buying an additional 11,162 shares in the last quarter. XTX Topco Ltd acquired a new position in Pioneer Power Solutions during the second quarter valued at $55,000. Legacy Advisors LLC acquired a new position in Pioneer Power Solutions during the third quarter valued at $69,000. NewEdge Advisors LLC acquired a new position in Pioneer Power Solutions during the third quarter valued at $94,000. Finally, State Street Corp raised its position in Pioneer Power Solutions by 12.6% during the fourth quarter. State Street Corp now owns 34,028 shares of the company’s stock valued at $161,000 after buying an additional 3,800 shares during the period. Institutional investors own 10.92% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Pioneer Power Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pioneer Power Solutions currently has a consensus rating of “Hold” and a consensus price target of $7.00.

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.