Power Solutions International (NASDAQ:PSIX) Hits New 12-Month Low – Here’s Why

Power Solutions International, Inc. (NASDAQ:PSIX)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $35.13 and last traded at $34.3970, with a volume of 50560 shares trading hands. The stock had previously closed at $36.68.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PSIX shares. Freedom Capital downgraded Power Solutions International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings cut Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group cut their target price on Power Solutions International from $110.51 to $92.90 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $99.95.

Power Solutions International Stock Down 0.2%

The stock’s 50-day moving average is $44.12 and its 200-day moving average is $61.96. The stock has a market cap of $798.68 million, a P/E ratio of 7.80 and a beta of 2.00. The company has a current ratio of 3.42, a quick ratio of 1.81 and a debt-to-equity ratio of 0.55.

Institutional Trading of Power Solutions International

A number of institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new position in shares of Power Solutions International during the first quarter valued at approximately $625,000. Acadian Asset Management LLC acquired a new stake in Power Solutions International in the first quarter worth approximately $112,000. JPMorgan Chase & Co. boosted its stake in Power Solutions International by 36.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,097 shares of the company’s stock valued at $200,000 after purchasing an additional 821 shares in the last quarter. Legal & General Group Plc bought a new position in Power Solutions International during the 2nd quarter valued at $361,000. Finally, Rhumbline Advisers acquired a new position in shares of Power Solutions International during the 2nd quarter valued at $610,000. 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.