Power Solutions International Inc. (PSIX) Shares Up 14%
Power Solutions International Inc. (NASDAQ:PSIX) shot up 14% during mid-day trading on Friday . The company traded as high as $19.64 and last traded at $19.57, with a volume of 74,807 shares traded. The stock had previously closed at $17.17.
A number of brokerages recently issued reports on PSIX. Zacks Investment Research cut shares of Power Solutions International from a “hold” rating to a “sell” rating in a report on Thursday. Vetr upgraded shares of Power Solutions International from a “hold” rating to a “buy” rating and set a $17.30 price objective for the company in a report on Monday, June 13th. Roth Capital upped their price target on shares of Power Solutions International from $16.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, June 8th. Finally, Lake Street Capital upped their price target on shares of Power Solutions International from $12.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Power Solutions International has an average rating of “Buy” and a consensus price target of $19.48.
The company has a market capitalization of $212.90 million and a price-to-earnings ratio of 199.69. The firm’s 50 day moving average is $16.87 and its 200-day moving average is $13.78.
Power Solutions International (NASDAQ:PSIX) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by $0.15. The company had revenue of $61.80 million for the quarter, compared to analyst estimates of $59.69 million. The firm’s revenue for the quarter was down 28.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. On average, equities analysts forecast that Power Solutions International Inc. will post ($0.30) EPS for the current year.
A hedge fund recently raised its stake in Power Solutions International stock. Royce & Associates LLC raised its stake in shares of Power Solutions International Inc. (NASDAQ:PSIX) by 114.0% during the fourth quarter, Holdings Channel reports. The fund owned 206,922 shares of the company’s stock after buying an additional 110,222 shares during the period. Royce & Associates LLC owned 1.92% of Power Solutions International worth $3,776,000 as of its most recent SEC filing.
Power Solutions International, Inc is a designer, manufacturer, distributor and supporter of power systems and custom-engineered integrated electrical power generation systems for industrial original equipment manufacturers (OEMs) across a range of industries, including stationary electricity power generation, oil and gas, material handling, aerial work platforms, industrial sweepers, arbor, welding, airport ground support, turf, agricultural, construction and irrigation.
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