Pioneer Power Solutions (NASDAQ:PPSI) Shares Up 6.5%

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) shares were up 6.5% during mid-day trading on Thursday . The stock traded as high as $3.94 and last traded at $3.92. Approximately 111,101 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 126,930 shares. The stock had previously closed at $3.68.

Analyst Upgrades and Downgrades

PPSI has been the topic of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Pioneer Power Solutions in a research report on Tuesday, April 2nd. Lake Street Capital cut their price target on Pioneer Power Solutions from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd.

Pioneer Power Solutions Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.82 and a quick ratio of 1.33. The business’s fifty day moving average price is $4.88 and its 200-day moving average price is $5.40. The stock has a market capitalization of $38.93 million, a price-to-earnings ratio of 21.78 and a beta of 0.55.

Institutional Trading of Pioneer Power Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in Pioneer Power Solutions during the fourth quarter worth $70,000. Jump Financial LLC purchased a new position in Pioneer Power Solutions during the 3rd quarter worth $67,000. Quadrature Capital Ltd purchased a new stake in Pioneer Power Solutions in the 4th quarter valued at about $109,000. Acadian Asset Management LLC increased its position in shares of Pioneer Power Solutions by 201.1% during the third quarter. Acadian Asset Management LLC now owns 22,732 shares of the company’s stock valued at $141,000 after acquiring an additional 15,183 shares during the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of Pioneer Power Solutions during the fourth quarter valued at approximately $221,000. 10.92% of the stock is owned by hedge funds and other institutional investors.

About Pioneer Power Solutions

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.