Short Interest in Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Decreases By 19.2%

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) saw a large drop in short interest in June. As of June 30th, there was short interest totalling 98,300 shares, a drop of 19.2% from the June 15th total of 121,700 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average trading volume of 88,900 shares, the short-interest ratio is presently 1.1 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PPSI. FNY Investment Advisers LLC purchased a new stake in shares of Pioneer Power Solutions in the 4th quarter valued at approximately $70,000. Virtu Financial LLC purchased a new stake in shares of Pioneer Power Solutions in the first quarter valued at $91,000. Quadrature Capital Ltd acquired a new stake in shares of Pioneer Power Solutions in the fourth quarter worth $109,000. Thompson Davis & CO. Inc. acquired a new stake in shares of Pioneer Power Solutions in the fourth quarter worth $221,000. Finally, GSA Capital Partners LLP grew its holdings in shares of Pioneer Power Solutions by 138.1% during the first quarter. GSA Capital Partners LLP now owns 80,490 shares of the company’s stock valued at $460,000 after buying an additional 46,680 shares in the last quarter. 10.92% of the stock is currently owned by institutional investors and hedge funds.

Pioneer Power Solutions Stock Down 0.8 %

Shares of NASDAQ PPSI traded down $0.04 during mid-day trading on Friday, hitting $4.80. 84,305 shares of the company traded hands, compared to its average volume of 71,053. Pioneer Power Solutions has a 1 year low of $3.35 and a 1 year high of $8.98. The stock has a market capitalization of $47.66 million, a price-to-earnings ratio of 26.67 and a beta of 0.69. The business has a 50 day moving average of $4.03 and a two-hundred day moving average of $4.66.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PPSI shares. Lake Street Capital decreased their price target on Pioneer Power Solutions from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Pioneer Power Solutions in a research report on Tuesday, April 2nd.

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 in two segments, Transmission & Distribution Solutions and Critical Power Solutions.