Power Solutions International (NASDAQ:PSIX) Shares Up 16% – Here’s What Happened

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price shot up 16% during mid-day trading on Friday . The company traded as high as $79.16 and last traded at $78.82. 292,481 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 396,404 shares. The stock had previously closed at $67.95.

Wall Street Analysts Forecast Growth

PSIX has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on shares of Power Solutions International in a research note on Monday, December 1st. They set a “buy” rating and a $110.51 price objective for the company. Wall Street Zen lowered shares of Power Solutions International from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Power Solutions International in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.51.

Power Solutions International Stock Up 19.2%

The company has a market cap of $1.87 billion, a P/E ratio of 15.39 and a beta of 2.11. The company has a quick ratio of 1.19, a current ratio of 2.28 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $67.16 and a 200 day moving average of $78.74.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PSIX. Federated Hermes Inc. purchased a new position in shares of Power Solutions International during the 3rd quarter worth $26,000. California State Teachers Retirement System bought a new position in Power Solutions International in the 2nd quarter worth $26,000. Caitong International Asset Management Co. Ltd raised 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 worth $30,000 after purchasing an additional 294 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Power Solutions International during the second quarter valued at $43,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Power Solutions International during the second quarter valued at about $52,000. 22.28% of the stock is currently owned by institutional investors.

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.