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

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

Wall Street Analysts Forecast Growth

PPSI has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Pioneer Power Solutions in a research report on Tuesday, April 2nd. Lake Street Capital reduced their price objective on shares of 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.

Pioneer Power Solutions Stock Up 6.5 %

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 stock has a market cap of $38.93 million, a price-to-earnings ratio of 21.78 and a beta of 0.55. The firm has a 50 day simple moving average of $4.88 and a two-hundred day simple moving average of $5.40.

Institutional Trading of Pioneer Power Solutions

A number of hedge funds have recently modified their holdings of PPSI. Jump Financial LLC bought a new stake in Pioneer Power Solutions in the third quarter valued at approximately $67,000. Acadian Asset Management LLC increased its position in shares of Pioneer Power Solutions by 201.1% in the 3rd quarter. Acadian Asset Management LLC now owns 22,732 shares of the company’s stock valued at $141,000 after buying an additional 15,183 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Pioneer Power Solutions during the 4th quarter worth $70,000. Thompson Davis & CO. Inc. bought a new position in Pioneer Power Solutions during the fourth quarter worth about $221,000. Finally, Spectrum Investment Advisors Inc. bought a new position in Pioneer Power Solutions during the fourth quarter worth about $774,000. 10.92% of the stock is currently owned by institutional investors and hedge funds.

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.