Power Solutions International (NASDAQ:PSIX) Stock Price Down 11.6% – Here’s Why

Power Solutions International, Inc. (NASDAQ:PSIX) shares were down 11.6% on Wednesday. The stock traded as low as $44.56 and last traded at $43.6740. 83,615 shares traded hands during trading, a decline of 85% from the average session volume of 559,480 shares. The stock had previously closed at $49.43.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PSIX shares. Freedom Capital upgraded Power Solutions International from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Weiss Ratings restated a “hold (c)” rating on shares of Power Solutions International in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Power Solutions International currently has an average rating of “Buy” and a consensus price target of $99.95.

Power Solutions International Trading Up 8.3%

The stock has a market capitalization of $896.13 million, a price-to-earnings ratio of 13.09 and a beta of 2.08. The company has a quick ratio of 1.49, a current ratio of 2.57 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average is $44.78 and its 200-day moving average is $52.41.

Power Solutions International (NASDAQ:PSIX) last released its quarterly earnings data on Thursday, November 5th. The company reported $1.30 EPS for the quarter. Power Solutions International had a return on equity of 37.73% and a net margin of 10.03%. The firm had revenue of $202.07 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Assets Advisory LLC acquired a new position in shares of Power Solutions International in the first quarter valued at approximately $33,000. New York State Teachers Retirement System acquired a new stake in Power Solutions International during the 1st quarter worth approximately $48,000. Integrated Wealth Concepts LLC acquired a new stake in Power Solutions International during the 2nd quarter worth approximately $63,000. Rockefeller Capital Management L.P. boosted its position in Power Solutions International by 178.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,812 shares of the company’s stock valued at $104,000 after buying an additional 1,162 shares during the period. Finally, Hamilton Wealth LLC purchased a new position in Power Solutions International in the 1st quarter valued at approximately $120,000. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

About Power Solutions International

Power Solutions International, Inc (NASDAQ: PSIX) designs, engineers, manufactures and distributes power systems and engines for a range of commercial, industrial and specialty applications. The company develops powertrain solutions intended to meet the performance, emissions and packaging requirements of original equipment manufacturers and end users.

Its product portfolio includes engines powered by gasoline, diesel, natural gas and propane, along with related electronic controls, fuel systems and power-management technologies.