Pioneer Power Solutions (NASDAQ:PPSI) Updates FY 2024 Earnings Guidance

Pioneer Power Solutions (NASDAQ:PPSI) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.310-0.340 for the period, compared to the consensus earnings per share estimate of 0.360. The company issued revenue guidance of $52.0 million-$54.0 million, compared to the consensus revenue estimate of $61.4 million.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Lake Street Capital assumed coverage on Pioneer Power Solutions in a report on Tuesday, December 19th. They issued a buy rating and a $12.00 price objective for the company. StockNews.com lowered Pioneer Power Solutions from a hold rating to a sell rating in a research report on Saturday, December 23rd.

Pioneer Power Solutions Stock Up 4.0 %

Shares of NASDAQ:PPSI traded up $0.23 during trading on Monday, hitting $5.94. The stock had a trading volume of 534,624 shares, compared to its average volume of 106,904. Pioneer Power Solutions has a 12 month low of $3.51 and a 12 month high of $9.84. The company has a market capitalization of $58.98 million, a PE ratio of 33.00 and a beta of 0.55. The firm’s fifty day moving average is $5.21 and its 200 day moving average is $5.65. The company has a quick ratio of 1.33, a current ratio of 1.82 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Pioneer Power Solutions by 7.5% during the 4th quarter. Vanguard Group Inc. now owns 181,921 shares of the company’s stock valued at $1,235,000 after buying an additional 12,699 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in Pioneer Power Solutions during the 3rd quarter valued at $777,000. Bridgeway Capital Management LLC boosted its stake in Pioneer Power Solutions by 35.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 51,600 shares of the company’s stock valued at $350,000 after purchasing an additional 13,500 shares during the last quarter. BlackRock Inc. boosted its stake in Pioneer Power Solutions by 5.3% during the 2nd quarter. BlackRock Inc. now owns 46,866 shares of the company’s stock valued at $394,000 after purchasing an additional 2,378 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Pioneer Power Solutions during the 3rd quarter valued at $289,000. Institutional investors own 10.92% of the company’s stock.

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.