PPSI Stock: 14 Things to Know as Pioneer Power Squeezes 50% Higher thumbnail

PPSI Stock: 14 Things to Know as Pioneer Power Squeezes 50% Higher

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PPSI stock looks like a prime short squeeze candidate


Eddie Pan, InvestorPlace Assistant News Writer

Nov 30, 2021, 10:59 am EST

Electric vehicle (EV) names have been catching momentum the past few months, and today it looks like a new name has decided to join the party. This morning, shares of Pioneer Power Solutions (NASDAQ:PPSI) soared as high as 50% during premarket trading. Earlier this month, the EV charging company launched three charging products designed to maximize range.

Electric Cars Charging Station Closeup Photo. Vehicle Rechargeable Batteries Charing. Future of Transportation.

Source: Virrage Images / Shutterstock.com

Additionally, PPSI stock is currently ranked #1 on Fintel’s Short Squeeze Screener, with a score of 99.4 out of 100. Within the screener, 100 means a short squeeze is very likely and zero means a short squeeze is very unlikely. Furthermore, the score is based on several factors, such as short interest, borrow rate and volume.

Let’s dive into some key highlights about PPSI stock.

PPSI Stock: 14 Things to Know

  1. Shares of PPSI stock have increased by 180% over the past month.
  2. The designer and manufacturer of electrical equipment serves industrial and commercial markets in the U.S.
  3. The company trades at an $89 million market capitalization and reported revenue of $5.7 million last quarter.
  4. Additionally, Pioneer Power Solutions launched three new products this month: the E-Boost G.O.A.T (generator on a truck), the E-Boost Mobile and the E-Boost Pod.
  5. The E-Boost G.O.A.T. is a truck-mounted generator that can provide on-demand charging at any convenient location.
  6. The E-Boost Mobile is a trailer-mounted charging solution that capitalizes on mobility. It can be used at large events to service charging needs, such as sports gatherings.
  7. The E-Boost Pod is a stationary charging station that utilizes DC Fast Charging (DCFC). Impressively, the Pod can charge two vehicles simultaneously and can also be used as a generator during emergency situations.
  8. These new products focus on portability and mobility, seeking to eliminate “range anxiety.”
  9. Geo Murickan, president of Pioneer, believes that the adoption of EV vehicles is “accelerating at a pace faster than EV charging infrastructure development can service. The increasing number of electric vehicles will require mobile charging capability to go where the need is. As a result, there are unique opportunities to fill the gaps and establish a market capability to service the coming massive introduction of EV vehicles.”
  10. At the end of October, short interest was 32,000 shares.
  11. However, by mid-November, short interest had jumped 5,000% to 1.6 million shares.
  12. Indeed, 1.6 million shares comprises 40.9% of PPSI stock’s total float.
  13. Additionally, the borrow-fee rate is currently 82.08%.
  14. It would take 2.47 days to cover all of the shorted shares.

On the date of publication, Eddie Pan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/11/ppsi-stock-14-things-to-know-as-pioneer-power-squeezes-50-higher/.

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