Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Here’s Why

Power Solutions International, Inc. (NASDAQ:PSIX) gapped up prior to trading on Thursday . The stock had previously closed at $40.09, but opened at $43.49. Power Solutions International shares last traded at $44.6050, with a volume of 228,935 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PSIX shares. 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. Weiss Ratings lowered shares of Power Solutions International from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, July 24th. One 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $99.95.

Power Solutions International Trading Up 14.6%

The firm has a 50-day moving average of $35.68 and a 200 day moving average of $47.77. The company has a market cap of $1.06 billion, a P/E ratio of 15.54 and a beta of 2.11. The company has a current ratio of 2.57, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35.

Power Solutions International (NASDAQ:PSIX) last issued its 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 business had revenue of $152.54 million during the quarter.

Institutional Trading of Power Solutions International

Several hedge funds have recently modified their holdings of the stock. Global Assets Advisory LLC bought a new position in Power Solutions International during the first quarter worth $33,000. New York State Teachers Retirement System bought a new stake in Power Solutions International in the first quarter valued at $48,000. Integrated Wealth Concepts LLC bought a new stake in Power Solutions International in the second quarter valued at $63,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Power Solutions International by 455.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock valued at $97,000 after purchasing an additional 1,390 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Power Solutions International by 178.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,812 shares of the company’s stock valued at $104,000 after purchasing an additional 1,162 shares during the period. Institutional investors own 22.28% of the company’s stock.

Power Solutions International Company Profile

Power Solutions International, Inc (NASDAQ: PSIX) designs, engineers, manufactures and supplies engines, power systems and related technologies for original equipment manufacturers. Its product portfolio includes engines powered by natural gas, propane, gasoline and diesel, along with electronic controls, fuel systems and other components used to manage and optimize engine performance.

The company serves a range of markets, including power generation, industrial equipment, construction, agriculture, material handling, transportation and other off-road applications.