Pioneer Power Solutions (NASDAQ:PPSI) Stock Price Up 6.5%

Pioneer Power Solutions, Inc. (NASDAQ:PPSI)’s stock price rose 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 were traded 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 Ratings Changes

PPSI has been the topic of several research analyst reports. Lake Street Capital dropped their price objective on Pioneer Power Solutions from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Pioneer Power Solutions in a research note on Tuesday, April 2nd.

Pioneer Power Solutions Stock Performance

The business has a fifty day simple moving average of $4.85 and a two-hundred day simple moving average of $5.39. 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 company has a market cap of $38.73 million, a PE ratio of 21.67 and a beta of 0.55.

Institutional Trading of Pioneer Power Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in PPSI. Jump Financial LLC purchased a new position in Pioneer Power Solutions in the 3rd quarter worth $67,000. FNY Investment Advisers LLC purchased a new position in Pioneer Power Solutions in the 4th quarter worth $70,000. Quadrature Capital Ltd purchased a new position in Pioneer Power Solutions in the 4th quarter worth $109,000. Acadian Asset Management LLC raised its stake in Pioneer Power Solutions by 201.1% in the 3rd quarter. Acadian Asset Management LLC now owns 22,732 shares of the company’s stock worth $141,000 after acquiring an additional 15,183 shares during the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new position in Pioneer Power Solutions in the 4th quarter worth $221,000. Hedge funds and other institutional investors own 10.92% of the company’s stock.

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.