Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Shares Shorted: Short Interest Down 53.7% in September

by · The Markets Daily

Pioneer Power Solutions, Inc. (NASDAQ:PPSI – Get Free Report) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 50,940 shares, a decrease of 53.7% from the September 15th total of 110,082 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 114,472 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Pioneer Power Solutions

Several hedge funds have recently modified their holdings of the business. Group One Trading LLC grew its stake in shares of Pioneer Power Solutions by 577.9% in the first quarter. Group One Trading LLC now owns 8,928 shares of the company’s stock worth $29,000 after acquiring an additional 7,611 shares during the last quarter. Renaissance Technologies LLC increased its position in 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 acquiring an additional 29,500 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Pioneer Power Solutions by 7.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 77,223 shares of the company’s stock valued at $251,000 after purchasing an additional 5,530 shares during the last quarter. 10.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. HC Wainwright reiterated a “buy” rating on shares of Pioneer Power Solutions in a report on Tuesday, August 18th. Weiss Ratings cut shares of Pioneer Power Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Check Out Our Latest Analysis on PPSI

Pioneer Power Solutions Stock Performance

Shares of NASDAQ PPSI traded down $0.04 during trading hours on Thursday, hitting $2.79. 41,067 shares of the company’s stock were exchanged, compared to its average volume of 146,218. Pioneer Power Solutions has a 1-year low of $2.35 and a 1-year high of $6.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.11 and a quick ratio of 2.92. The stock has a market capitalization of $30.97 million, a price-to-earnings ratio of -4.81 and a beta of 1.78. The company’s 50-day moving average price is $3.07 and its 200-day moving average price is $3.51.

Pioneer Power Solutions (NASDAQ:PPSI – Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.06). The business had revenue of $5.02 million for the quarter, compared to the consensus estimate of $4.78 million. Pioneer Power Solutions had a negative net margin of 38.11% and a negative return on equity of 27.64%. On average, sell-side analysts expect that Pioneer Power Solutions will post -0.62 earnings per share for the current fiscal year.

About Pioneer Power Solutions

(Get Free Report)

Pioneer Power Solutions, Inc is an energy infrastructure company that provides electrical power equipment and related services in the United States. Its activities focus on distributed power generation, electrical distribution systems, microgrids and other solutions designed to support reliable and resilient electricity supply.

Through its operating businesses, the company designs, supplies, installs and services power-generation and electrical-infrastructure systems for commercial, industrial, institutional and other customers.

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