- 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.
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.
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.
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.