Power Solutions International (NASDAQ:PSIX) Trading 7.7% Higher – Here’s What Happened

Shares of Power Solutions International, Inc. (NASDAQ:PSIX) were up 7.7% during mid-day trading on Thursday . The stock traded as high as $76.77 and last traded at $76.50. Approximately 144,610 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 384,403 shares. The stock had previously closed at $71.00.

Analyst Ratings Changes

Several research analysts recently commented on the company. Jefferies Financial Group started coverage on Power Solutions International in a research note on Monday, December 1st. They set a “buy” rating and a $110.51 target price for the company. Wall Street Zen downgraded shares of Power Solutions International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Power Solutions International in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.51.

Power Solutions International Stock Performance

The stock has a market cap of $1.76 billion, a PE ratio of 14.54 and a beta of 2.02. The stock has a fifty day moving average of $61.85 and a 200-day moving average of $78.68. The company has a quick ratio of 1.19, a current ratio of 2.28 and a debt-to-equity ratio of 0.59.

Power Solutions International (NASDAQ:PSIX) last posted its quarterly earnings data on Thursday, November 6th. The company reported $1.20 earnings per share for the quarter. The company had revenue of $203.83 million during the quarter. Power Solutions International had a return on equity of 109.04% and a net margin of 17.94%.

Institutional Trading of Power Solutions International

Several hedge funds and other institutional investors have recently made changes to their positions in PSIX. Federated Hermes Inc. acquired a new position in shares of Power Solutions International during the third quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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 valued at $30,000 after purchasing an additional 294 shares in the last quarter. Wolff Wiese Magana LLC acquired a new position in Power Solutions International during the 2nd quarter worth approximately $26,000. California State Teachers Retirement System purchased a new position in shares of Power Solutions International during the 2nd quarter worth approximately $26,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Power Solutions International in the 2nd quarter valued at approximately $43,000. Hedge funds and other 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.