Short Interest in Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Decreases By 64.4%

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totaling 53,674 shares, a drop of 64.4% from the April 30th total of 150,861 shares. Based on an average daily trading volume, of 288,989 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.7% of the company’s shares are short sold.

Pioneer Power Solutions Trading Down 1.3%

Shares of PPSI stock traded down $0.07 during trading on Friday, hitting $5.42. 334,658 shares of the stock traded hands, compared to its average volume of 329,927. Pioneer Power Solutions has a 52-week low of $2.35 and a 52-week high of $6.29. The firm has a market capitalization of $60.14 million, a P/E ratio of -10.84 and a beta of 1.67. The firm’s fifty day moving average price is $3.69 and its 200-day moving average price is $3.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.68 and a quick ratio of 3.53.

Pioneer Power Solutions (NASDAQ:PPSI) last issued its quarterly earnings data on Monday, May 18th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.11). The business 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%. As a group, research analysts forecast that Pioneer Power Solutions will post -0.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PPSI shares. Wall Street Zen cut Pioneer Power Solutions from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings lowered shares of Pioneer Power Solutions from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Pioneer Power Solutions has an average rating of “Hold” and an average price target of $7.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Spectrum Investment Advisors Inc. purchased a new stake in shares of Pioneer Power Solutions in the 4th quarter valued at approximately $650,000. Renaissance Technologies LLC boosted its position in shares of Pioneer Power Solutions by 85.0% during the 1st quarter. Renaissance Technologies LLC now owns 64,200 shares of the company’s stock worth $209,000 after purchasing an additional 29,500 shares during the period. NewEdge Advisors LLC acquired a new stake in Pioneer Power Solutions in the 3rd quarter valued at approximately $94,000. XTX Topco Ltd purchased a new stake in Pioneer Power Solutions in the second quarter valued at approximately $55,000. Finally, Legacy Advisors LLC purchased a new stake in Pioneer Power Solutions in the third quarter valued at approximately $69,000. Hedge funds and other institutional investors own 10.92% of the company’s stock.

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.