Pioneer Power Solutions Inc. (PPSI) stock takes a dip of 6.67% in the after-hours following its gain of 34.04% on December 08. In the previous trading session, the stock was up by $2.74 to close at $10.79 with 36.16 million shares. Following the big jump in regular trading, the stock seems to have fallen under market corrections. Subject to profit booking, PPSI stock went down to $10.07 in the after hours.
The on-site power generation equipment producer, Pioneer Power Solutions Inc. (PPSI) has a market capitalization of $70.24 million. Currently, the company has 8.73 million shares outstanding in the market.
What’s happening with PPSI?
Looking at the stock’s overall performance, PPSI has been growing well. The stock has gained over 52.6% in the past five days alone. Moreover, it has gone up by 195.62% in the past three months, adding 178.81% year to date.
It seems the overall great performance had the investors rallying towards the stock on Wednesday. Wednesday’s session saw a massive volume of 36.16 million shares, which was 363% of the 65-day average of 9.95M. At such a hefty volume, the investors drove the stock up to reach a high of $11.94 on December 08. But soon after the hike, the stock fell under profit booking in the following aftermarket session.
EV Charging Solutions
On November 08, PPSI announced the launch of its E-Boost© mobile charging solutions for electrical vehicles. Further, the E-Boost portfolio of the company included E-Boost G.O.A.T, E-Boost Mobile, and E-Boost Pod.
Firstly, the E-Boost G.O.A.T (Generator on a Truck) provides EV charging along with mobility. With the mobility option, this product will enable charging at any location for electric vehicles.
Secondly, the E-Boost Mobile is a trailer-mounted solution for a higher-capacity mobile solution. It can be used to compensate for a high demand for EV charging with its multiple towing options.
Thirdly, the E-Boost Pod is a customizable capacity, stationary EV charging solution. This solution is capable of simultaneous double vehicle high-speed DC fast charging. Moreover, in case of need, it can be moved as well.
In addition, all of the E-Boost solutions can provide power needs in other situations like power outages, as well.
PPSI’s Financial Highlights
On November 16, PPSI announced its financial results for the third quarter ended September 20, 2021. As per the Q3 of 2021, the revenue was $5.7 million, showing an increase of 40.3% year-over-year.
Furthermore, the net loss was $434,000 or $0.05/share in the third quarter of 2021. This compares to a net income of $1.3 million or $0.15/share in the year-ago quarter.