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Highlights
- Pioneer Power Solutions, Inc. (NASDAQ: PPSI) announced receiving a US$12-million order from a large mass merchandiser.
- Pioneer Power earned US$14.8 million in revenue in nine months ended Sept 30, 2021.
- The Pioneer Power (PPSI) stock jumped 120.46% YTD.
Pioneer Power Solutions, Inc. (NASDAQ: PPSI) stock rose more than 16% to around US$8 on Tuesday afternoon after announcing receiving a US$12-million order for its E-Bloc units.
The order for 62 E-Bloc units would almost double Pioneer’s sales in the T&D segment next year. It is part of a larger deal where the buyer would place more orders for its 500 stores.
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Pioneer manufactures electrical and power products. It also offers services for electric transmission and on-site power generation equipment for various industries. Its operating segments include Transmission and Distribution (T&D) Solutions and Critical Power Solutions.
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Pioneer Products
Its E-Bloc units provide flexibility to combine various energy resources into a compact package for power installation. It also provides EV charging and power installation connectivity with minimum operational disturbance.
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Financials:
For the nine months ended Sept 30, 2021, it earned revenue of US$14.8 million compared to US$14.13 million a year ago. Its net loss reduced to US$0.769 million or US$(0.09) per share diluted from US$2.24 million or US$(0.26) in the same period of 2020.
Its cash and restricted cash were US$5.15 million as of Sept 30, 2021.
The power solution company has a market capitalization of US$79 million. Its stock traded in the range of US$14.43 to US$3.09 in the last 52 weeks.
The stock closed at US$7.05 on Dec 20, 2021.
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Bottomline
Shares of Pioneer Power gained 120.46% YTD. The company expects more bulk orders next year. However, investors should analyze the companies carefully before investing in stocks.