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

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

Wall Street Analysts Forecast Growth

PPSI has been the subject of several research reports. Wall Street Zen downgraded Pioneer Power Solutions from a “hold” rating to a “sell” rating in a research 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 research note on Tuesday, April 14th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Pioneer Power Solutions Stock Down 1.3%

NASDAQ PPSI traded down $0.07 on Friday, hitting $5.42. 334,658 shares of the stock were exchanged, compared to its average volume of 329,927. Pioneer Power Solutions has a fifty-two week low of $2.35 and a fifty-two week high of $6.29. The company has a 50-day moving average price of $3.69 and a 200-day moving average price of $3.96. The company has a quick ratio of 3.53, a current ratio of 4.68 and a debt-to-equity ratio of 0.01. The company has a market cap of $60.14 million, a PE ratio of -10.84 and a beta of 1.67.

Pioneer Power Solutions (NASDAQ:PPSI) last announced its quarterly earnings data on Monday, May 18th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.11). The firm had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.70 million. Pioneer Power Solutions had a negative net margin of 30.13% and a negative return on equity of 22.96%. Sell-side analysts anticipate that Pioneer Power Solutions will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Pioneer Power Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in PPSI. 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 acquiring an additional 5,530 shares during the last quarter. XTX Topco Ltd acquired a new position in Pioneer Power Solutions during the 4th quarter worth approximately $65,000. Geode Capital Management LLC grew its holdings in Pioneer Power Solutions by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 112,226 shares of the company’s stock worth $531,000 after acquiring an additional 3,099 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Pioneer Power Solutions by 40.2% in the 4th quarter. Renaissance Technologies LLC now owns 34,700 shares of the company’s stock valued at $164,000 after purchasing an additional 9,948 shares in the last quarter. Finally, State Street Corp increased its holdings in Pioneer Power Solutions by 12.6% in the fourth quarter. State Street Corp now owns 34,028 shares of the company’s stock valued at $161,000 after buying an additional 3,800 shares in 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) 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.