Pioneer Power Solutions (NASDAQ:PPSI) Issues FY 2024 Earnings Guidance

Pioneer Power Solutions (NASDAQ:PPSI) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.310-0.340 for the period, compared to the consensus EPS estimate of 0.360. The company issued revenue guidance of $52.0 million-$54.0 million, compared to the consensus revenue estimate of $61.4 million.

Pioneer Power Solutions Trading Up 4.0 %

NASDAQ:PPSI traded up $0.23 during mid-day trading on Monday, hitting $5.94. The company had a trading volume of 534,624 shares, compared to its average volume of 106,904. Pioneer Power Solutions has a fifty-two week low of $3.51 and a fifty-two week high of $9.84. The business’s fifty day moving average is $5.21 and its two-hundred day moving average is $5.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.82. The firm has a market cap of $58.98 million, a P/E ratio of 33.00 and a beta of 0.55.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PPSI. Lake Street Capital started coverage on Pioneer Power Solutions in a research report on Tuesday, December 19th. They issued a buy rating and a $12.00 target price on the stock. StockNews.com downgraded Pioneer Power Solutions from a hold rating to a sell rating in a research note on Saturday, December 23rd.

Institutional Trading of Pioneer Power Solutions

A number of hedge funds have recently bought and sold shares of PPSI. Ameriprise Financial Inc. purchased a new position in shares of Pioneer Power Solutions in the 3rd quarter worth about $777,000. BlackRock Inc. lifted its position in shares of Pioneer Power Solutions by 5.3% in the 2nd quarter. BlackRock Inc. now owns 46,866 shares of the company’s stock worth $394,000 after purchasing an additional 2,378 shares during the period. Geode Capital Management LLC grew its position in shares of Pioneer Power Solutions by 23.9% in the 2nd quarter. Geode Capital Management LLC now owns 42,755 shares of the company’s stock worth $359,000 after buying an additional 8,248 shares during the period. Bridgeway Capital Management LLC grew its holdings in Pioneer Power Solutions by 35.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 51,600 shares of the company’s stock worth $350,000 after purchasing an additional 13,500 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Pioneer Power Solutions in the third quarter worth about $289,000. 10.92% of the stock is currently owned by institutional investors.

Pioneer Power Solutions Company Profile

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.