Pioneer Power Solutions (NASDAQ:PPSI) Posts Earnings Results, Beats Expectations By $0.02 EPS

Pioneer Power Solutions (NASDAQ:PPSI) posted its quarterly earnings data on Wednesday. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02, FiscalAI reports. Pioneer Power Solutions had a negative return on equity of 12.91% and a net margin of 99.80%.The company had revenue of $5.63 million during the quarter, compared to analysts’ expectations of $6.00 million.

Pioneer Power Solutions Price Performance

Shares of NASDAQ PPSI traded up $0.07 during trading on Wednesday, hitting $3.32. 132,432 shares of the company were exchanged, compared to its average volume of 112,493. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.62 and a quick ratio of 3.55. Pioneer Power Solutions has a 1 year low of $2.29 and a 1 year high of $5.70. The company has a market cap of $36.84 million, a price-to-earnings ratio of -7.22 and a beta of 1.56. The firm’s fifty day moving average price is $3.70 and its 200 day moving average price is $4.10.

Hedge Funds Weigh In On Pioneer Power Solutions

Several hedge funds have recently bought and sold shares of the company. Group One Trading LLC boosted its position in Pioneer Power Solutions by 1,860.3% during the third quarter. Group One Trading LLC now owns 11,762 shares of the company’s stock worth $51,000 after purchasing an additional 11,162 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Pioneer Power Solutions in the second quarter valued at $55,000. Legacy Advisors LLC acquired a new position in shares of Pioneer Power Solutions during the 3rd quarter worth $69,000. NewEdge Advisors LLC purchased a new stake in shares of Pioneer Power Solutions in the 3rd quarter worth about $94,000. Finally, State Street Corp boosted its position in shares of Pioneer Power Solutions by 12.6% in the 4th quarter. State Street Corp now owns 34,028 shares of the company’s stock worth $161,000 after buying an additional 3,800 shares in the last quarter. 10.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pioneer Power Solutions in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.50.

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.