Pioneer Power Solutions Gains 14% On Winning New Orders

(RTTNews) - Shares of Pioneer Power Solutions, Inc. (PPSI) are rising more than 14% Thursday morning after the company said it won about $6.2 million worth orders for new use-cases during the second quarter.

"These wins, all booked during the second quarter, support our expectation of continued revenue growth throughout 2023 and 2024 and speak to consistent strong demand, especially from solar customers," said Nathan Mazurek, Pioneer's Chairman and Chief Executive Officer.

The company said the orders include those from a major global designer and manufacturer of aerospace products and services, who is deploying Pioneer Power's E-Bloc solution at its services and maintenance facility in the Southeastern United States.

PPSI is at $8.55. It has traded in the range of $2.33 - $9.84 in the last 1 year.