Power Solutions International, Inc. (NASDAQ:PSIX) Sees Large Drop in Short Interest

Power Solutions International, Inc. (NASDAQ:PSIX) was the recipient of a large drop in short interest in February. As of February 13th, there was short interest totaling 1,388,891 shares, a drop of 14.0% from the January 29th total of 1,614,516 shares. Currently, 6.1% of the shares of the stock are sold short. Based on an average daily volume of 577,628 shares, the days-to-cover ratio is presently 2.4 days. Based on an average daily volume of 577,628 shares, the days-to-cover ratio is presently 2.4 days. Currently, 6.1% of the shares of the stock are sold short.

Analyst Ratings Changes

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

Power Solutions International Trading Down 0.2%

Shares of NASDAQ PSIX traded down $0.10 during trading on Wednesday, hitting $60.81. 698,070 shares of the company traded hands, compared to its average volume of 486,828. The firm has a market capitalization of $1.40 billion, a P/E ratio of 12.28 and a beta of 2.04. 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 50-day moving average price of $76.52 and a 200-day moving average price of $78.35. Power Solutions International has a 1 year low of $18.10 and a 1 year high of $121.78.

Institutional Investors Weigh In On Power Solutions International

Institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. purchased a new stake in shares of Power Solutions International during the 3rd quarter valued at about $26,000. California State Teachers Retirement System acquired a new position in shares of Power Solutions International during the second quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Power Solutions International by 2,672.7% in the third 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 during the period. Ameritas Investment Partners Inc. acquired a new stake in Power Solutions International during the 2nd quarter valued at $43,000. Finally, State of Wyoming purchased a new stake in Power Solutions International during the 4th quarter worth $49,000. 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.