Pioneer Power Solutions (NASDAQ:PPSI) Stock Rating Lowered by Zacks Investment Research

Pioneer Power Solutions (NASDAQ:PPSIGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Pioneer Power Solutions, Inc. is specialty manufacturer of electrical transmission and distribution equipment. The company provide solutions in the utility, industrial and commercial segments of the electrical transmission and distribution industry. It operates primarily in the U.S., Canada and Mexico. Pioneer Power Solutions, Inc. is headquartered in Fort Lee, New Jersey. “

PPSI has been the topic of a number of other reports. HC Wainwright assumed coverage on shares of Pioneer Power Solutions in a research note on Monday, January 31st. They issued a “buy” rating and a $12.00 price objective on the stock. StockNews.com raised shares of Pioneer Power Solutions to a “sell” rating in a research note on Friday. Finally, TheStreet cut shares of Pioneer Power Solutions from a “c-” rating to a “d” rating in a research note on Monday, January 3rd.

NASDAQ:PPSI opened at $4.10 on Tuesday. Pioneer Power Solutions has a fifty-two week low of $3.09 and a fifty-two week high of $14.43. The stock has a market cap of $39.54 million, a PE ratio of -16.40 and a beta of -0.52. The firm’s fifty day simple moving average is $5.45 and its 200-day simple moving average is $6.23.

Pioneer Power Solutions (NASDAQ:PPSIGet Rating) last posted its quarterly earnings results on Thursday, March 31st. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.10). Pioneer Power Solutions had a negative return on equity of 14.81% and a negative net margin of 11.84%. The company had revenue of $3.50 million for the quarter, compared to analyst estimates of $5.97 million. On average, analysts forecast that Pioneer Power Solutions will post -0.2 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Dorsey Wright & Associates purchased a new position in shares of Pioneer Power Solutions during the 1st quarter worth about $43,000. GSA Capital Partners LLP purchased a new position in shares of Pioneer Power Solutions during the 3rd quarter worth about $36,000. Geode Capital Management LLC lifted its holdings in shares of Pioneer Power Solutions by 8.9% during the 3rd quarter. Geode Capital Management LLC now owns 31,065 shares of the company’s stock worth $103,000 after acquiring an additional 2,545 shares during the period. Advisor Group Holdings Inc. lifted its holdings in shares of Pioneer Power Solutions by 47.2% during the 3rd quarter. Advisor Group Holdings Inc. now owns 31,175 shares of the company’s stock worth $104,000 after acquiring an additional 10,000 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Pioneer Power Solutions by 40,069.3% during the 3rd quarter. Morgan Stanley now owns 40,571 shares of the company’s stock worth $134,000 after acquiring an additional 40,470 shares during the period. Institutional investors and hedge funds own 5.04% of the company’s stock.

About Pioneer Power Solutions (Get Rating)

Pioneer Power Solutions, Inc, together with its subsidiaries, designs, manufactures, sells, and services electric power systems, distributed energy resources, used and new power generation equipment, and mobile EV charging solutions in the United States, Canada, and internationally. The company operates in two segments, Transmission & Distribution Solutions and Critical Power Solutions.

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