Power Solutions International (NASDAQ:PSIX) Stock Price Up 16.8% – Here’s What Happened

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price traded up 16.8% during trading on Tuesday . The stock traded as high as $33.83 and last traded at $33.6180. 109,194 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 619,833 shares. The stock had previously closed at $28.78.

Analyst Ratings Changes

PSIX has been the subject of several research analyst reports. Weiss Ratings downgraded Power Solutions International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, July 24th. Freedom Capital cut Power Solutions International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.95.

Power Solutions International Trading Down 5.5%

The stock has a market cap of $759.27 million, a price-to-earnings ratio of 7.42 and a beta of 2.01. The company has a quick ratio of 1.81, a current ratio of 3.42 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $35.70 and a 200-day moving average of $57.04.

Hedge Funds Weigh In On Power Solutions International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. bought a new stake in Power Solutions International in the first quarter worth approximately $625,000. Acadian Asset Management LLC acquired a new stake in shares of Power Solutions International in the 1st quarter valued at $112,000. JPMorgan Chase & Co. lifted its stake in shares of Power Solutions International by 36.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,097 shares of the company’s stock valued at $200,000 after purchasing an additional 821 shares during the last quarter. Legal & General Group Plc bought a new stake in Power Solutions International in the second quarter worth $361,000. Finally, Rhumbline Advisers bought a new stake in Power Solutions International in the second quarter worth $610,000. Institutional investors own 22.28% of the company’s stock.

Power Solutions International Company Profile

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.