Power Solutions International Inc. (PSIX) Sees Large Volume Increase
Power Solutions International Inc. (NASDAQ:PSIX) saw unusually-high trading volume on Wednesday . Approximately 64,460 shares traded hands during trading, an increase of 10% from the previous session’s volume of 58,366 shares.The stock last traded at $13.69 and had previously closed at $13.91.
PSIX has been the subject of several analyst reports. Vetr cut Power Solutions International from a “strong-buy” rating to a “buy” rating and set a $17.20 price target for the company. in a research note on Tuesday, May 31st. Roth Capital upped their price target on Power Solutions International from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, June 8th. Zacks Investment Research upgraded Power Solutions International from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Lake Street Capital cut Power Solutions International from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Power Solutions International currently has an average rating of “Buy” and a consensus target price of $19.48.
The firm’s 50 day moving average is $17.00 and its 200-day moving average is $14.11. The stock has a market cap of $131.74 million and a P/E ratio of 123.57.
A hedge fund recently raised its stake in Power Solutions International stock. State of New Jersey Common Pension Fund D boosted its stake in Power Solutions International Inc. (NASDAQ:PSIX) by 12.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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.
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