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

Power Solutions International, Inc. (NASDAQ:PSIX) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 1,140,321 shares, a decrease of 17.9% from the February 12th total of 1,388,891 shares. Currently, 5.0% of the shares of the stock are short sold. Based on an average daily volume of 391,974 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily volume of 391,974 shares, the days-to-cover ratio is presently 2.9 days. Currently, 5.0% of the shares of the stock are short sold.

Power Solutions International Stock Down 3.3%

NASDAQ:PSIX traded down $1.96 during trading hours on Tuesday, hitting $57.30. 203,641 shares of the stock traded hands, compared to its average volume of 553,200. The firm has a 50 day moving average price of $75.28 and a 200 day moving average price of $76.55. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 11.58 and a beta of 2.04. The company has a current ratio of 3.15, a quick ratio of 1.77 and a debt-to-equity ratio of 0.54. Power Solutions International has a fifty-two week low of $18.10 and a fifty-two week high of $121.78.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PSIX shares. Wall Street Zen cut Power Solutions International from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Loop Capital set a $107.00 price objective on Power Solutions International in a report on Wednesday, March 4th. Jefferies Financial Group started coverage on Power Solutions International in a report on Monday, December 1st. They set a “buy” rating and a $110.51 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Power Solutions International in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.26.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. acquired a new stake in Power Solutions International in the third quarter valued at approximately $26,000. California State Teachers Retirement System acquired a new position in shares of Power Solutions International during the second quarter valued at about $26,000. Caitong International Asset Management Co. Ltd grew its position 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 buying an additional 294 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Power Solutions International during the second quarter valued at about $43,000. Finally, State of Wyoming bought a new position in Power Solutions International during the fourth quarter valued at about $49,000. 22.28% of the stock is owned by institutional investors and hedge funds.

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.