Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Short Interest Update

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 98,300 shares, a decrease of 19.2% from the June 15th total of 121,700 shares. Based on an average trading volume of 88,900 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.3% of the company’s shares are sold short.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Pioneer Power Solutions in a report on Tuesday, April 2nd. Lake Street Capital dropped their price objective on Pioneer Power Solutions from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd.

Institutional Investors Weigh In On Pioneer Power Solutions

Several large investors have recently bought and sold shares of the stock. Spectrum Investment Advisors Inc. purchased a new position in Pioneer Power Solutions in the fourth quarter worth approximately $774,000. GSA Capital Partners LLP raised its holdings in Pioneer Power Solutions by 138.1% during the first quarter. GSA Capital Partners LLP now owns 80,490 shares of the company’s stock worth $460,000 after purchasing an additional 46,680 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of Pioneer Power Solutions during the 4th quarter worth approximately $221,000. Quadrature Capital Ltd acquired a new position in shares of Pioneer Power Solutions in the 4th quarter valued at $109,000. Finally, Virtu Financial LLC purchased a new position in shares of Pioneer Power Solutions in the 1st quarter valued at $91,000. Hedge funds and other institutional investors own 10.92% of the company’s stock.

Pioneer Power Solutions Stock Performance

Shares of PPSI stock opened at $4.80 on Friday. Pioneer Power Solutions has a fifty-two week low of $3.35 and a fifty-two week high of $8.98. The company has a 50 day moving average price of $4.03 and a 200 day moving average price of $4.68. The stock has a market capitalization of $47.66 million, a P/E ratio of 26.67 and a beta of 0.69.

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.