Power Solutions International (NASDAQ:PSIX) Stock Price Up 7% – Here’s What Happened

Power Solutions International, Inc. (NASDAQ:PSIX) was up 7% during trading on Tuesday . The company traded as high as $63.83 and last traded at $63.64. Approximately 182,346 shares were traded during trading, a decline of 65% from the average daily volume of 525,561 shares. The stock had previously closed at $59.48.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PSIX shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Power Solutions International in a research note on Monday, December 1st. Jefferies Financial Group assumed coverage on Power Solutions International in a research note on Monday, December 1st. They set a “buy” rating and a $110.51 target price for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.51.

Power Solutions International Trading Up 6.1%

The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 11.99 and a beta of 2.01. The business’s fifty day simple moving average is $73.80 and its 200 day simple moving average is $76.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 1.19.

Power Solutions International (NASDAQ:PSIX) last posted its quarterly earnings results on Thursday, November 6th. The company reported $1.20 EPS for the quarter. Power Solutions International had a net margin of 17.94% and a return on equity of 109.04%. The business had revenue of $203.83 million during the quarter.

Insiders Place Their Bets

In related news, major shareholder America Corp. Weichai sold 79,839 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $93.46, for a total value of $7,461,752.94. Following the completion of the sale, the insider directly owned 10,599,759 shares of the company’s stock, valued at approximately $990,653,476.14. This represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Power Solutions International

A number of hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its stake in Power Solutions International by 2,672.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 294 shares in the last quarter. Advisory Services Network LLC increased its holdings in Power Solutions International by 90.8% in the third quarter. Advisory Services Network LLC now owns 6,776 shares of the company’s stock worth $666,000 after buying an additional 3,224 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Power Solutions International during the third quarter valued at approximately $499,000. Voleon Capital Management LP bought a new stake in Power Solutions International in the third quarter worth approximately $1,337,000. Finally, Verition Fund Management LLC increased its stake in shares of Power Solutions International by 17.2% during the 3rd quarter. Verition Fund Management LLC now owns 21,527 shares of the company’s stock worth $2,114,000 after purchasing an additional 3,154 shares during the last quarter. 22.28% of the stock is owned by institutional investors and hedge funds.

About Power Solutions International

Power Solutions International, Inc engages in the design, manufacture, and trade of power systems and electrical power generation equipment. The firm provides integrated turnkey solutions to global original equipment manufacturers and end-user customers within the energy, industrial, and transportation end markets.