Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Sees Significant Decrease in Short Interest

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 47,700 shares, a decrease of 33.4% from the August 15th total of 71,600 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 76,800 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Pioneer Power Solutions to a “sell” rating in a research note on Wednesday.

Pioneer Power Solutions Stock Performance

NASDAQ PPSI traded up $0.37 during trading on Friday, hitting $4.84. The company’s stock had a trading volume of 109,403 shares, compared to its average volume of 99,107. Pioneer Power Solutions has a 52 week low of $3.35 and a 52 week high of $7.30. The firm has a market cap of $52.85 million, a P/E ratio of 26.89 and a beta of 0.68. The firm has a 50 day moving average price of $4.46 and a 200 day moving average price of $4.40. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.02.

Pioneer Power Solutions (NASDAQ:PPSI) last announced its earnings results on Friday, July 26th. The company reported ($0.27) earnings per share (EPS) for the quarter. The company had revenue of $8.41 million for the quarter. Pioneer Power Solutions had a negative return on equity of 11.23% and a negative net margin of 4.57%. Equities research analysts forecast that Pioneer Power Solutions will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pioneer Power Solutions

Several hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in Pioneer Power Solutions by 17.7% during the second quarter. Dimensional Fund Advisors LP now owns 55,805 shares of the company’s stock valued at $222,000 after acquiring an additional 8,401 shares during the period. Virtu Financial LLC acquired a new position in shares of Pioneer Power Solutions in the first quarter valued at $91,000. GSA Capital Partners LLP lifted its position in Pioneer Power Solutions by 138.1% in the first quarter. GSA Capital Partners LLP now owns 80,490 shares of the company’s stock worth $460,000 after purchasing an additional 46,680 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Pioneer Power Solutions in the fourth quarter worth $109,000. Institutional investors own 10.92% of the company’s stock.

About Pioneer Power Solutions

Pioneer Power Solutions, Inc, together with its subsidiaries, design, manufacture, integrate, refurbish, distribute, sell, and service electric power systems, distributed energy resources, power generation equipment, and mobile EV charging solutions. The company operates through Electrical Infrastructure Equipment and Critical Power Solutions segments.