Power Solutions International (NASDAQ:PSIX) Trading Down 7.7% – Here’s Why

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price traded down 7.7% during trading on Friday . The company traded as low as $55.99 and last traded at $55.9080. 549,061 shares were traded during mid-day trading, an increase of 2% from the average session volume of 538,882 shares. The stock had previously closed at $60.57.

Analyst Ratings Changes

PSIX has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Power Solutions International in a research report on Monday, December 29th. Loop Capital set a $107.00 price target on shares of Power Solutions International in a report on Wednesday, March 4th. Jefferies Financial Group initiated coverage on Power Solutions International in a report on Monday, December 1st. They set a “buy” rating and a $110.51 price objective for the company. Finally, Wall Street Zen downgraded Power Solutions International from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.26.

Power Solutions International Stock Down 7.2%

The business’s 50 day moving average is $75.56 and its 200 day moving average is $77.03. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 11.37 and a beta of 2.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.77 and a current ratio of 3.15.

Institutional Investors Weigh In On Power Solutions International

A number of large investors have recently made changes to their positions in the stock. Federated Hermes Inc. acquired a new position in shares of Power Solutions International in the 3rd quarter valued at $26,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Power Solutions International by 2,672.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 294 shares during the period. California State Teachers Retirement System acquired a new position in shares of Power Solutions International in the second quarter valued at about $26,000. Ameritas Investment Partners Inc. purchased a new position in shares of Power Solutions International in the second quarter worth about $43,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Power Solutions International during the second quarter worth about $52,000. 22.28% of the stock is owned by hedge funds and other institutional investors.

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.