Power Solutions International (NASDAQ:PSIX) Trading 5.7% Higher – Here’s What Happened
by Scott Moore · The Cerbat GemPower Solutions International, Inc. (NASDAQ:PSIX – Get Free Report)’s share price shot up 5.7% during mid-day trading on Thursday . The company traded as high as $74.49 and last traded at $73.1510. 219,261 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 567,636 shares. The stock had previously closed at $69.22.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on PSIX. Loop Capital set a $107.00 price target on shares of Power Solutions International in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Power Solutions International in a research note on Friday, March 27th. Jefferies Financial Group cut their target price on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. Finally, Wall Street Zen lowered shares of Power Solutions International from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Power Solutions International has an average rating of “Moderate Buy” and a consensus target price of $99.95.
View Our Latest Analysis on PSIX
Power Solutions International Price Performance
The business’s 50 day moving average price is $71.12 and its two-hundred day moving average price is $72.90. The stock has a market cap of $1.70 billion, a P/E ratio of 14.93 and a beta of 2.19. The company has a current ratio of 3.15, a quick ratio of 1.77 and a debt-to-equity ratio of 0.54.
Institutional Investors Weigh In On Power Solutions International
Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. bought a new stake in Power Solutions International during the third quarter worth about $26,000. California State Teachers Retirement System bought a new stake in Power Solutions International during the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its stake in Power Solutions International by 2,672.7% during the third 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 in the last quarter. State of Wyoming bought a new stake in Power Solutions International during the fourth quarter worth about $49,000. Finally, Indiana Trust & Investment Management Co bought a new stake in Power Solutions International during the fourth quarter worth about $57,000. 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.