The stock of Pioneer Power Solutions, Inc. (NASDAQ:PPSI) is now priced at $1.75 and the shares are 0.35 points up or 25% higher compared to its previous closing price of $1.4. PPSI shares have a float of 3.2 million and although its performance was 19.05% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the PPSI share price recently placing at $1.4 to $2.05. However, some brokerage firms have priced the stock below the average, including one that has called $7.5.
The shorts are climbing into the Pioneer Power Solutions, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the PPSI shares have risen. Short interest in the stock represents just 0.32% of its float, but the volume has raised by 3114. The volume of shorted shares rised to 10160 from 7046 shares over the last two weeks. The average intraday trading volume has been 231134 shares, which means that days to cover moved to roughly 1.
In the last trading session, Pioneer Power Solutions, Inc. (NASDAQ:PPSI) raised by $0.28 over the week and gained $0.36 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.19. The stock recorded its established 52-week high on 09/10/19.
Since 05/01/20, the stock has traded to a low of $0.9001 at 94.42%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.52. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Pioneer Power Solutions, Inc.’s two-week RSI is 68.56. This suggests that the stock is neutral at the moment and that PPSI shares’ price movement remains stable. The stochastic readings are equally revealing at 53.39% meaning the PPSI share price is currently in neutral territory.
The technical chart shows that the PPSI stock will likely settle at between $2.0667 and $2.3833 per share. However, if the stock dips below $1.4167, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.0833.
Currently, the stock is trading in the green of MACD, with a reading of 0.0504. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at ROTH Capital though raised target price of PPSI stock from $10 to $6 but maintained Buy recommendation in their October 29 review.
Elsewhere, the PPSI stocks P/S ratio currently stands at 0 below the group’s average of 47.8. Pioneer Power Solutions, Inc. has its P/E ratio at 1.1, which means that the stock is currently trading at a discount relative to the 3.8 industry average.