Pioneer Power Solutions Inc. (PPSI) stock goes down -19.71% in after-hours to trade at $8.35 versus its last close at $10.40 (+219.02%) on November 8, 2021. PPSI started its surge on Monday after announcing the launch of its E-Boost portfolio of mobile electric vehicle charging products including E-Boost G.O.A.T (generator on a truck), E-Boost Mobile (trailer mounted solution), and E-Boost Pod (stationary charging solution). This leads to a volume spike to 307.44M compared to a 65-day average of 4.95M, resulting in PPSI to be the most actively traded stock on Nasdaq.
Following the huge surge, the PPSI stock began to fall as and went into corrections as profit bookers become active in the after-hours.
Financial Analysis of PPSI
As per the financial reports for the year ended December 31, 2020, the net loss was $0.34 per basic and diluted share compared to $1.38 per basic and diluted share for the year ended December 31, 2019. The analysts forecasted an estimate of $0.61 earning per share for the year 2020. The net loss generated from continual operations is worth $3.0 million for 2020, compared to $12.0 million for 2019.
In the same report, the consolidated revenue decreased to $19.5 million for 2020, from $20.6 million for 2019. The revenue decrease was by $1.1 million or 5.3% in the year 2020 from 2019.
Pioneer Power Solutions Inc. (PPSI) previously announced its quarterly earnings results on August 13, 2020. The total earnings stood at $5.63 million for the quarter while the earning per share was $0.08. The upcoming quarterly earnings results according to PPSI, will be published on Tuesday, November 16, 2021. The earnings conference call will be held at 4:30 PM Eastern Time.
The Future
Pioneer Power Solutions Inc. (PPSI) anticipates rapid growth in demand for mobile charging with high capacity, as the electrical vehicles market keeps expanding. PPSI’s launch of its new range of products from mobile to stationary solutions, according to them, further advances the company towards a multi-billion-dollar market opportunity in Electrical Vehicle Charging.
According to Nathan Mazurek, Pioneer Power’s Chairman and Chief Executive Officer, it is a fact that electrical vehicles are the future and as early as 2050, the majority of the automobiles worldwide would be powered by electricity. While the EV market is expanding exponentially, the charging infrastructure needed for it is slow paced. This has created various opportunities to fill the gaps.
Mazurek further says that their E-Boost and EVC options with both mobile and stationary facilities are ready to address this opportunity and provide customers with easily available solutions. If PPSI can keep up with the advancing markets, the future of PPSI stock seems bright.
