Pioneer Power Solutions (NASDAQ:PPSI) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Pioneer Power Solutions (NASDAQ:PPSIGet Rating) from a sell rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Pioneer Power Solutions, Inc. is specialty manufacturer of electrical transmission and distribution equipment. The company provide solutions in the utility, industrial and commercial segments of the electrical transmission and distribution industry. It operates primarily in the U.S., Canada and Mexico. Pioneer Power Solutions, Inc. is headquartered in Fort Lee, New Jersey. “

PPSI has been the subject of a number of other reports. HC Wainwright initiated coverage on shares of Pioneer Power Solutions in a research note on Monday, January 31st. They set a buy rating and a $12.00 price objective for the company. StockNews.com raised shares of Pioneer Power Solutions to a sell rating in a report on Friday, April 29th.

Shares of Pioneer Power Solutions stock opened at $3.17 on Tuesday. The company has a 50-day moving average of $4.99 and a 200 day moving average of $6.20. The firm has a market cap of $30.57 million, a price-to-earnings ratio of -12.68 and a beta of -0.23. Pioneer Power Solutions has a 1 year low of $2.77 and a 1 year high of $14.43.

Pioneer Power Solutions (NASDAQ:PPSIGet Rating) last issued its quarterly earnings results on Thursday, March 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.10). The business had revenue of $3.50 million during the quarter, compared to the consensus estimate of $5.97 million. Pioneer Power Solutions had a negative return on equity of 14.81% and a negative net margin of 11.84%. Equities analysts anticipate that Pioneer Power Solutions will post -0.2 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of Pioneer Power Solutions during the 3rd quarter valued at about $36,000. Advisor Group Holdings Inc. boosted its holdings in shares of Pioneer Power Solutions by 47.2% in the third quarter. Advisor Group Holdings Inc. now owns 31,175 shares of the company’s stock worth $104,000 after buying an additional 10,000 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Pioneer Power Solutions in the fourth quarter worth approximately $1,076,000. Vanguard Group Inc. boosted its holdings in shares of Pioneer Power Solutions by 3.3% in the first quarter. Vanguard Group Inc. now owns 165,314 shares of the company’s stock worth $936,000 after buying an additional 5,300 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Pioneer Power Solutions by 74,988.0% in the first quarter. Morgan Stanley now owns 75,088 shares of the company’s stock worth $364,000 after buying an additional 74,988 shares during the last quarter. 5.04% of the stock is currently owned by hedge funds and other institutional investors.

About Pioneer Power Solutions (Get Rating)

Pioneer Power Solutions, Inc, together with its subsidiaries, designs, manufactures, sells, and services electric power systems, distributed energy resources, used and new power generation equipment, and mobile EV charging solutions in the United States, Canada, and internationally. The company operates in two segments, Transmission & Distribution Solutions and Critical Power Solutions.

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