Power Solutions International (NASDAQ:PSIX) Trading 10% Higher – Here’s Why

Shares of Power Solutions International, Inc. (NASDAQ:PSIXGet Free Report) traded up 10% during mid-day trading on Wednesday . The company traded as high as $66.20 and last traded at $66.95. 105,778 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 564,114 shares. The stock had previously closed at $60.88.

Trending Headlines about Power Solutions International

Here are the key news stories impacting Power Solutions International this week:

Analysts Set New Price Targets

Several brokerages have recently issued reports on PSIX. Weiss Ratings restated a “hold (c+)” rating on shares of Power Solutions International in a research report on Friday. Jefferies Financial Group cut their target price on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating for the company in a research note on Tuesday, March 24th. Loop Capital set a $107.00 price target on shares of Power Solutions International in a research note on Wednesday, March 4th. Finally, Wall Street Zen downgraded shares of Power Solutions International from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Power Solutions International has a consensus rating of “Moderate Buy” and an average price target of $99.95.

Check Out Our Latest Analysis on Power Solutions International

Power Solutions International Price Performance

The company has a 50-day moving average of $72.31 and a two-hundred day moving average of $74.22. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.15 and a quick ratio of 1.77. The stock has a market capitalization of $1.57 billion, a PE ratio of 13.75 and a beta of 2.03.

Hedge Funds Weigh In On Power Solutions International

A number of large investors have recently bought and sold shares of PSIX. Federated Hermes Inc. acquired a new position in shares of Power Solutions International in the 3rd quarter valued at $26,000. California State Teachers Retirement System acquired a new position in Power Solutions International in the second quarter valued at $26,000. Caitong International Asset Management Co. Ltd grew its position in Power Solutions International by 2,672.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 294 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Power Solutions International during the second quarter worth about $43,000. Finally, State of Wyoming purchased a new position in shares of Power Solutions International in the 4th quarter worth about $49,000. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Power Solutions International Company Profile

(Get Free Report)

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.

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