Power Solutions International (NASDAQ:PSIX) Shares Down 9.8% – Should You Sell?

Power Solutions International, Inc. (NASDAQ:PSIX)’s stock price traded down 9.8% during trading on Thursday . The stock traded as low as $54.10 and last traded at $54.10. 676,321 shares traded hands during mid-day trading, an increase of 35% from the average session volume of 502,567 shares. The stock had previously closed at $60.00.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSIX. Wall Street Zen downgraded Power Solutions International from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of Power Solutions International in a research report on Monday, December 29th. Loop Capital set a $107.00 target price on Power Solutions International in a research note on Wednesday. Finally, Jefferies Financial Group began 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 assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.26.

Power Solutions International Price Performance

The stock’s 50-day moving average is $75.86 and its 200 day moving average is $77.81. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.19 and a current ratio of 3.15. The stock has a market capitalization of $1.20 billion, a PE ratio of 10.54 and a beta of 2.04.

Institutional Trading of Power Solutions International

A number of hedge funds and other institutional investors have recently made changes to their positions in PSIX. Federated Hermes Inc. purchased a new stake in shares of Power Solutions International in the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd grew its stake in Power Solutions International by 2,672.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the last quarter. California State Teachers Retirement System purchased a new position in Power Solutions International during the 2nd quarter worth approximately $26,000. Ameritas Investment Partners Inc. acquired a new position in Power Solutions International during the second quarter worth approximately $43,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Power Solutions International during the second quarter worth approximately $52,000. Institutional investors and hedge funds own 22.28% of the company’s stock.

About Power Solutions International

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.