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Pioneer Power Solutions (NASDAQ:PPSI) Updates Q4 2023 Earnings Guidance

Pioneer Power Solutions (NASDAQ:PPSI – Get Free Report) updated its fourth quarter 2023 earnings guidance on Tuesday. The company provided EPS guidance of -0.070–0.070 for the period, compared to the consensus EPS estimate of 0.010. The company issued revenue guidance of $7.7 million-$7.7 million, compared to the consensus revenue estimate of $10.9 million. Pioneer Power Solutions also updated its FY 2023 guidance to 0.010-0.010 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PPSI. HC Wainwright reiterated a buy rating and issued a $12.00 target price on shares of Pioneer Power Solutions in a report on Tuesday. downgraded shares of Pioneer Power Solutions from a hold rating to a sell rating in a report on Saturday, December 23rd. Finally, Lake Street Capital dropped their target price on shares of Pioneer Power Solutions from $12.00 to $9.00 and set a buy rating on the stock in a report on Tuesday.

Check Out Our Latest Stock Report on PPSI

Pioneer Power Solutions Price Performance

Shares of NASDAQ PPSI traded down $1.36 during trading on Tuesday, reaching $4.58. The company had a trading volume of 1,084,579 shares, compared to its average volume of 122,875. Pioneer Power Solutions has a 52 week low of $3.51 and a 52 week high of $9.84. The stock has a market cap of $45.48 million, a PE ratio of 25.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.82. The business’s 50 day moving average price is $5.21 and its 200-day moving average price is $5.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. acquired a new position in Pioneer Power Solutions during the third quarter worth $777,000. GSA Capital Partners LLP bought a new stake in Pioneer Power Solutions during the third quarter worth $289,000. Renaissance Technologies LLC bought a new stake in Pioneer Power Solutions during the second quarter worth $66,000. Citadel Advisors LLC bought a new stake in Pioneer Power Solutions during the fourth quarter worth $154,000. Finally, Dimensional Fund Advisors LP raised its position in Pioneer Power Solutions by 148.8% during the first quarter. Dimensional Fund Advisors LP now owns 36,052 shares of the company’s stock worth $204,000 after acquiring an additional 21,564 shares in the last quarter. Institutional investors and hedge funds own 10.92% of the company’s stock.

About Pioneer Power Solutions

(Get Free Report)

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.

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