Strength Seen in Pioneer Power Solutions, Inc. (PPSI): Can Its 9.5% Jump Turn into More Strength?
Pioneer Power Solutions, Inc. (PPSI) shares soared 9.5% in the last trading session to close at $8.28. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.3% gain over the past four weeks.
The stock surged following the company’s $6.2 million win in E-Bloc orders from several new customers for new use-cases during the second quarter. Among several customers, Pioneer Power’s E-Bloc solution will be deployed at an aerospace product manufacturer’s maintenance facility in the Southeastern United States. Also, three solar-centric developers will utilize E-Bloc to support their various applications.
This company is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $9.66 million, up 125.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Pioneer Power Solutions, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PPSI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Pioneer Power Solutions, Inc. is part of the Zacks Manufacturing - Electronics industry. EnerSys (ENS), another stock in the same industry, closed the last trading session 0.6% higher at $110.99. ENS has returned 4.7% in the past month.
EnerSys' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.58. Compared to the company's year-ago EPS, this represents a change of +37.4%. EnerSys currently boasts a Zacks Rank of #1 (Strong Buy).
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