Pioneer Power Solutions Inc (NASDAQ: PPSI) Shares Might Go Up 56.31% This Year

In the last trading session, 1.08 million shares of the Pioneer Power Solutions Inc (NASDAQ:PPSI) were traded, and its beta was 0.54. Most recently the company’s share price was $4.58, and it changed around -$1.36 or -22.90% from the last close, which brings the market valuation of the company to $45.48M. PPSI currently trades at a discount to its 52-week high of $9.84, offering almost -114.85% off that amount. The share price’s 52-week low was $3.51, which indicates that the current value has risen by an impressive 23.36% since then. We note from Pioneer Power Solutions Inc’s average daily trading volume that its 10-day average is 0.27 million shares, with the 3-month average coming to 107.41K.

Pioneer Power Solutions Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended PPSI as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Pioneer Power Solutions Inc is expected to report earnings per share of -$0.01 for the current quarter.

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Pioneer Power Solutions Inc (NASDAQ:PPSI) trade information

Instantly PPSI has showed a red trend with a performance of -22.90% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -32.55% year-to-date, but still down -14.55% over the last five days. On the other hand, Pioneer Power Solutions Inc (NASDAQ:PPSI) is -9.13% down in the 30-day period. We can see from the shorts that 47030.0 shares have been sold at a short interest cover period of 0.33 day(s).

The consensus price target as assigned by Wall Street analysts is $9, which translates to bulls needing to increase their stock price by 49.11% from its current value. Analyst projections state that PPSI is forecast to be at a low of $9 and a high of $9.

Pioneer Power Solutions Inc (PPSI) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -200.00% in revenue this quarter, and will report an increase of 366.70% in the next quarter. The year-over-year growth rate is expected to be 50.40%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $11.2 million in revenue for the current quarter. 1 analysts expect Pioneer Power Solutions Inc to make $15 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $9.3 million and $9.66 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 20.40%. Forecasts for the next quarter put sales growth at 55.30%.

Pioneer Power Solutions Inc earnings are expected to increase by 2000.00% in 2024, but the outlook is positive 6.00% per year for the next five years.

PPSI Dividends

Pioneer Power Solutions Inc’s next quarterly earnings report is expected to be released in May.

Pioneer Power Solutions Inc (NASDAQ:PPSI)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 23.03% of Pioneer Power Solutions Inc shares, and 10.96% of them are in the hands of institutional investors. The stock currently has a share float of 14.24%. Pioneer Power Solutions Inc stock is held by 36 institutions, with EAM Investors, LLC being the largest institutional investor. By Jun 29, 2023, it held 2.95% of the shares, which is about 0.3 million shares worth $2.49 million.

Atria Wealth Solutions, Inc., with 2.94% or 0.3 million shares worth $2.48 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 0.11 million shares worth $0.9 million, making up 1.07% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 62065.0 shares worth around $0.52 million, which represents about 0.62% of the total shares outstanding.