Power Solutions International (NASDAQ:PSIX) Stock Price Down 3.7% – Here’s What Happened

Shares of Power Solutions International, Inc. (NASDAQ:PSIX) traded down 3.7% during trading on Monday . The stock traded as low as $65.01 and last traded at $65.0650. 87,054 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 565,148 shares. The stock had previously closed at $67.55.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PSIX shares. Wall Street Zen lowered Power Solutions International from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Power Solutions International in a report on Friday, March 27th. Loop Capital set a $107.00 price target on shares of Power Solutions International in a research note on Wednesday, March 4th. Finally, Jefferies Financial Group reduced their price objective on Power Solutions International from $110.51 to $92.90 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Power Solutions International presently has an average rating of “Moderate Buy” and an average price target of $99.95.

Power Solutions International Price Performance

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 company has a market cap of $1.47 billion, a PE ratio of 12.93 and a beta of 2.19. The company has a 50-day moving average price of $71.66 and a two-hundred day moving average price of $73.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Power Solutions International during the third quarter valued at about $19,001,000. Osaic Holdings Inc. lifted its stake in shares of Power Solutions International by 102.3% in the second quarter. Osaic Holdings Inc. now owns 44,759 shares of the company’s stock worth $2,895,000 after acquiring an additional 22,637 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Power Solutions International in the third quarter valued at about $1,588,000. Verde Servicos Internacionais S.A. acquired a new stake in Power Solutions International during the 3rd quarter valued at approximately $1,196,000. Finally, Navellier & Associates Inc. grew its stake in Power Solutions International by 47.1% during the 3rd quarter. Navellier & Associates Inc. now owns 64,160 shares of the company’s stock valued at $6,302,000 after purchasing an additional 20,557 shares in the last quarter. 22.28% of the stock is currently 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.