Power Solutions International (NASDAQ:PSIX) Stock Price Up 10.5% – Here’s Why

Shares of Power Solutions International, Inc. (NASDAQ:PSIX) rose 10.5% during trading on Tuesday . The stock traded as high as $43.28 and last traded at $42.94. Approximately 237,555 shares traded hands during trading, a decline of 66% from the average daily volume of 689,405 shares. The stock had previously closed at $38.87.

Analysts Set New Price Targets

PSIX has been the subject of several research reports. Weiss Ratings cut shares of Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Jefferies Financial Group reduced their target price on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating for the company in a research note on Tuesday, March 24th. Wall Street Zen cut shares of Power Solutions International from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Loop Capital set a $107.00 target price on shares of Power Solutions International in a research note on Wednesday, March 4th. Finally, Freedom Capital cut shares of 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $99.95.

Power Solutions International Price Performance

The stock has a market capitalization of $967.87 million, a price-to-earnings ratio of 9.46 and a beta of 2.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.42 and a quick ratio of 1.81. The stock’s 50 day simple moving average is $62.04 and its 200-day simple moving average is $66.20.

Hedge Funds Weigh In On Power Solutions International

A number of institutional investors have recently modified their holdings of PSIX. Allspring Global Investments Holdings LLC increased its position in Power Solutions International by 59.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 328,761 shares of the company’s stock worth $20,229,000 after acquiring an additional 122,672 shares during the period. Navellier & Associates Inc. increased its position in Power Solutions International by 58.6% during the fourth quarter. Navellier & Associates Inc. now owns 101,729 shares of the company’s stock worth $5,813,000 after acquiring an additional 37,569 shares during the period. Ruffer LLP bought a new position in Power Solutions International during the fourth quarter worth $2,178,000. Principal Financial Group Inc. bought a new position in Power Solutions International during the third quarter worth $1,588,000. Finally, Verde Servicos Internacionais S.A. bought a new position in Power Solutions International during the third quarter worth $1,196,000. Institutional investors own 22.28% of the company’s stock.

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.