Power Solutions International (NASDAQ:PSIX) Stock Price Down 7.3% – Should You Sell?

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price traded down 7.3% during mid-day trading on Tuesday . The stock traded as low as $36.28 and last traded at $36.0750. 680,945 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 691,559 shares. The stock had previously closed at $38.93.

Key Stories Impacting Power Solutions International

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

• Positive Sentiment: No clearly positive company-specific catalysts were reported in the latest articles.
• Neutral Sentiment: Multiple law firms, including Rosen, Faruqi & Faruqi, Berger Montague, Schall, and others, reminded investors about the May 19 deadline to seek lead-plaintiff status in an existing securities class action. Article Title
• Neutral Sentiment: Bronstein, Gewirtz & Grossman said it filed a class action lawsuit against Power Solutions International and certain officers, seeking damages for alleged violations of federal securities laws. Article Title
• Negative Sentiment: The concentration of litigation headlines and deadline-driven solicitations may heighten investor concern about possible disclosure issues and legal costs, which can weigh on sentiment for PSIX. Article Title

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Loop Capital set a $107.00 target price on shares of Power Solutions International in a report on Wednesday, March 4th. Freedom Capital cut shares of Power Solutions International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen cut shares of Power Solutions International from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Jefferies Financial Group cut their price target on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating on the stock in a report on Tuesday, March 24th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $99.95.

Power Solutions International Trading Down 7.5%

The firm has a market cap of $829.68 million, a P/E ratio of 8.11 and a beta of 2.21. The firm’s fifty day moving average is $64.30 and its two-hundred day moving average is $68.48. The company has a quick ratio of 1.81, a current ratio of 3.42 and a debt-to-equity ratio of 0.55.

Institutional Trading of Power Solutions International

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Power Solutions International by 59.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 328,761 shares of the company’s stock valued at $20,229,000 after buying an additional 122,672 shares in the last quarter. Navellier & Associates Inc. boosted its holdings in shares of Power Solutions International by 58.6% during the 4th quarter. Navellier & Associates Inc. now owns 101,729 shares of the company’s stock valued at $5,813,000 after buying an additional 37,569 shares in the last quarter. Ruffer LLP bought a new stake in shares of Power Solutions International during the 4th quarter valued at $2,178,000. Principal Financial Group Inc. bought a new stake in shares of Power Solutions International during the 3rd quarter valued at $1,588,000. Finally, Verde Servicos Internacionais S.A. bought a new stake in shares of Power Solutions International during the 3rd quarter valued at $1,196,000. Institutional investors own 22.28% of the company’s stock.

Power Solutions International Company Profile

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.