Navellier & Associates Inc. Reduces Stock Position in Power Solutions International, Inc. $PSIX

Navellier & Associates Inc. trimmed its stake in shares of Power Solutions International, Inc. (NASDAQ:PSIX) by 90.5% in the second quarter, Holdings Channel.com reports. The fund owned 10,224 shares of the company’s stock after selling 97,278 shares during the period. Navellier & Associates Inc.’s holdings in Power Solutions International were worth $398,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Power Solutions International by 2,672.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 294 shares during the period. California State Teachers Retirement System acquired a new position in Power Solutions International during the second quarter worth $26,000. Global Assets Advisory LLC purchased a new stake in Power Solutions International during the first quarter worth $33,000. New York State Teachers Retirement System purchased a new stake in Power Solutions International during the first quarter worth $48,000. Finally, State of Wyoming acquired a new stake in Power Solutions International in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings cut Power Solutions International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Freedom Capital upgraded shares of Power Solutions International from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Power Solutions International currently has a consensus rating of “Buy” and a consensus price target of $99.95.

Power Solutions International Price Performance

PSIX stock opened at $36.28 on Monday. The stock’s 50 day moving average price is $35.17 and its 200 day moving average price is $52.54. The firm has a market cap of $836.98 million, a P/E ratio of 12.30 and a beta of 2.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.57. Power Solutions International, Inc. has a 1 year low of $25.28 and a 1 year high of $119.70.

Power Solutions International (NASDAQ:PSIX) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.78 earnings per share for the quarter. Power Solutions International had a return on equity of 37.73% and a net margin of 10.03%.The company had revenue of $152.54 million during the quarter.

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.