Pioneer Power Solutions (NASDAQ:PPSI) Posts Earnings Results, Misses Expectations By $0.11 EPS

Pioneer Power Solutions (NASDAQ:PPSI) posted its quarterly earnings results on Friday. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.11), FiscalAI reports. Pioneer Power Solutions had a negative return on equity of 20.22% and a negative net margin of 21.71%.The firm had revenue of $4.27 million for the quarter, compared to analysts’ expectations of $4.70 million.

Pioneer Power Solutions Stock Performance

NASDAQ:PPSI traded down $0.18 during mid-day trading on Friday, hitting $3.98. 195,562 shares of the company’s stock traded hands, compared to its average volume of 161,830. The firm has a 50 day moving average of $3.35 and a two-hundred day moving average of $3.91. The firm has a market capitalization of $44.18 million, a price-to-earnings ratio of -8.65 and a beta of 1.67. The company has a current ratio of 5.23, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. Pioneer Power Solutions has a 12 month low of $2.35 and a 12 month high of $5.70.

Institutional Trading of Pioneer Power Solutions

A number of hedge funds have recently modified their holdings of PPSI. NewEdge Advisors LLC bought a new stake in shares of Pioneer Power Solutions in the 3rd quarter worth approximately $94,000. XTX Topco Ltd bought a new stake in shares of Pioneer Power Solutions in the 2nd quarter worth approximately $55,000. Legacy Advisors LLC bought a new stake in shares of Pioneer Power Solutions in the 3rd quarter worth approximately $69,000. Group One Trading LLC lifted its position in shares of Pioneer Power Solutions by 1,860.3% in the 3rd quarter. Group One Trading LLC now owns 11,762 shares of the company’s stock worth $51,000 after acquiring an additional 11,162 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Pioneer Power Solutions by 19.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 65,550 shares of the company’s stock worth $283,000 after acquiring an additional 10,741 shares during the period. Institutional investors own 10.92% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Pioneer Power Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.00.

Pioneer Power Solutions Company Profile

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.