Pioneer Power Solutions (NASDAQ:PPSI) Stock Jumps 2.5% – Still a Buy?

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) shares traded up 2.5% during mid-day trading on Tuesday. The stock traded as high as $2.53 and last traded at $2.46. Approximately 66,337 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 59,802 shares. The stock had previously closed at $2.40.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PPSI. 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. HC Wainwright reiterated a “buy” rating on shares of Pioneer Power Solutions in a research note on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.00.

Pioneer Power Solutions Trading Up 2.5%

The company has a quick ratio of 2.92, a current ratio of 4.11 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $2.96 and a 200 day simple moving average of $3.54. The company has a market cap of $27.31 million, a price-to-earnings ratio of -4.24 and a beta of 1.87.

Pioneer Power Solutions (NASDAQ:PPSI) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The company had revenue of $5.02 million for the quarter, compared to analyst estimates of $4.78 million. Pioneer Power Solutions had a negative return on equity of 27.64% and a negative net margin of 38.11%. On average, equities analysts anticipate that Pioneer Power Solutions, Inc. will post -0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Pioneer Power Solutions

Several institutional investors have recently modified their holdings of PPSI. Dimensional Fund Advisors LP increased its stake in Pioneer Power Solutions by 7.7% in 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 in the last quarter. Renaissance Technologies LLC grew its holdings in Pioneer Power Solutions by 85.0% in the first quarter. Renaissance Technologies LLC now owns 64,200 shares of the company’s stock valued at $209,000 after purchasing an additional 29,500 shares during the last quarter. Finally, Group One Trading LLC grew its holdings in Pioneer Power Solutions by 577.9% in the first quarter. Group One Trading LLC now owns 8,928 shares of the company’s stock valued at $29,000 after purchasing an additional 7,611 shares during the last quarter. Hedge funds and other institutional investors own 10.92% of the company’s stock.

About Pioneer Power Solutions

Pioneer Power Solutions, Inc (NASDAQ:PPSI) provides electrical power solutions for customers seeking reliable, resilient and flexible energy infrastructure. The company focuses on distributed energy resources, including systems designed to support backup power, peak-load management and microgrid applications.

Through its operating businesses, Pioneer Power offers engineering, equipment procurement, system integration, installation and service capabilities. Its solutions may incorporate power-generation equipment, electrical distribution systems, controls and energy-storage technologies.