Power Solutions International (NASDAQ:PSIX) Trading 7.9% Higher – Time to Buy?

Shares of Power Solutions International, Inc. (NASDAQ:PSIX) traded up 7.9% during mid-day trading on Thursday . The company traded as high as $40.65 and last traded at $41.2980. 103,214 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 679,215 shares. The stock had previously closed at $38.29.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Loop Capital set a $107.00 price objective on shares of Power Solutions International in a research report on Wednesday, March 4th. Freedom Capital lowered shares of Power Solutions International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Power Solutions International from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Jefferies Financial Group cut their target price on shares of 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. Finally, Weiss Ratings lowered shares of Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Power Solutions International currently has an average rating of “Hold” and an average price target of $99.95.

Power Solutions International Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 3.42 and a quick ratio of 1.81. The firm’s 50 day moving average is $58.59 and its 200 day moving average is $64.89. The firm has a market cap of $930.76 million, a P/E ratio of 9.10 and a beta of 2.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Power Solutions International by 38.9% in the third quarter. Vanguard Group Inc. now owns 502,381 shares of the company’s stock worth $49,344,000 after buying an additional 140,743 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Power Solutions International by 5.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 466,204 shares of the company’s stock worth $28,382,000 after buying an additional 23,108 shares during the last quarter. Situational Awareness LP purchased a new position in Power Solutions International in the fourth quarter worth about $24,702,000. Allspring Global Investments Holdings LLC raised its holdings in Power Solutions International by 59.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 328,761 shares of the company’s stock worth $20,229,000 after buying an additional 122,672 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Power Solutions International by 40.3% in the first quarter. Dimensional Fund Advisors LP now owns 283,241 shares of the company’s stock worth $17,240,000 after buying an additional 81,350 shares during the last quarter. 22.28% of the stock is owned by hedge funds and other institutional investors.

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.