Power Solutions International (NASDAQ:PSIX) Stock Price Up 7.7% – Here’s Why

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price traded up 7.7% on Thursday . The company traded as high as $76.77 and last traded at $76.50. 144,610 shares traded hands during trading, a decline of 62% from the average session volume of 384,403 shares. The stock had previously closed at $71.00.

Analysts Set New Price Targets

PSIX has been the subject of several research analyst reports. Jefferies Financial Group began coverage on shares of Power Solutions International in a research report on Monday, December 1st. They issued a “buy” rating and a $110.51 target price for the company. Wall Street Zen cut shares of Power Solutions International from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Power Solutions International in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.51.

Power Solutions International Price Performance

The stock’s fifty day simple moving average is $61.94 and its 200 day simple moving average is $78.74. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 1.19. The firm has a market capitalization of $1.75 billion, a P/E ratio of 14.45 and a beta of 2.02.

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

Institutional Investors Weigh In On Power Solutions International

A number of institutional investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC acquired a new position in shares of Power Solutions International in the 2nd quarter worth approximately $26,000. Federated Hermes Inc. purchased a new stake in Power Solutions International in the third quarter valued at approximately $26,000. California State Teachers Retirement System purchased a new position in shares of Power Solutions International in the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of 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 acquiring an additional 294 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in Power Solutions International during the 2nd quarter worth about $43,000. 22.28% of the stock is currently owned by institutional investors and hedge funds.

About Power Solutions International

Power Solutions International, Inc is a global designer and manufacturer of integrated powertrain solutions for commercial vehicle, industrial and military applications. Headquartered in Wood Dale, Illinois, the company develops and assembles advanced diesel engine and transmission packages under the Atlas® brand, combining proprietary engine technology with high-efficiency transmissions to deliver power-dense systems. These solutions are tailored for medium- and heavy-duty trucks, buses, construction equipment, generator sets and specialty vehicles.

In addition to complete powertrain systems, the company offers a broad range of component products including diesel engines, transmissions and aftertreatment modules.