Power Solutions International Inc. (PSIX) Shares Down 10.6%
Power Solutions International Inc. (NASDAQ:PSIX) shares were down 10.6% on Tuesday . The stock traded as low as $13.00 and last traded at $13.80, with a volume of 183,035 shares traded. The stock had previously closed at $15.43.
Several research analysts have weighed in on PSIX shares. Vetr cut Power Solutions International from a “strong-buy” rating to a “buy” rating and set a $17.20 price objective on the stock. in a research report on Wednesday, May 25th. Roth Capital increased their price objective on Power Solutions International from $16.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, June 8th. Zacks Investment Research cut Power Solutions International from a “hold” rating to a “sell” rating in a research report on Thursday, July 7th. Finally, Lake Street Capital cut Power Solutions International from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $19.48.
The stock’s 50-day moving average price is $17.10 and its 200-day moving average price is $14.11. The firm has a market cap of $149.91 million and a PE ratio of 140.61.
An institutional investor recently raised its position in Power Solutions International stock. State of New Jersey Common Pension Fund D raised its stake in Power Solutions International Inc. (NASDAQ:PSIX) by 12.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 360,000 shares of the company’s stock after buying an additional 40,000 shares during the period. State of New Jersey Common Pension Fund D owned about 3.35% of Power Solutions International worth $6,570,000 as of its most recent SEC filing.
Power Solutions International, Inc is a producer and distributor of a range of low-emission power systems that run on non-diesel fuels, such as natural gas, propane and gasoline. The Company’s industrial power systems are used by original equipment manufacturers (OEMs) in a range of industries with a diversified set of applications, including stationary electricity generators, oil and gas equipment, forklifts, aerial work platforms, industrial sweepers, arbor equipment, agricultural and turf equipment, aircraft ground support equipment, construction and irrigation equipment, and other industrial equipment.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.