Power Solutions International (NASDAQ:PSIX) Shares Down 10.8% – Here’s Why

Power Solutions International, Inc. (NASDAQ:PSIX) fell 10.8% on Wednesday. The stock traded as low as $47.43 and last traded at $47.4270. 546,512 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 571,242 shares. The stock had previously closed at $53.14.

Analyst Upgrades and Downgrades

A number of analysts have commented on PSIX shares. Freedom Capital raised Power Solutions International from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Weiss Ratings downgraded Power Solutions International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $99.95.

Power Solutions International Stock Down 11.0%

The stock’s 50-day moving average price is $41.90 and its two-hundred day moving average price is $46.14. The company has a current ratio of 2.57, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.09 billion, a P/E ratio of 16.11 and a beta of 2.01.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its stake in Power Solutions International by 5.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 466,204 shares of the company’s stock valued at $28,382,000 after acquiring an additional 23,108 shares in the last quarter. Newtyn Management LLC bought a new position in Power Solutions International in the 2nd quarter valued at $23,369,000. Dimensional Fund Advisors LP boosted its holdings in Power Solutions International by 40.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 283,241 shares of the company’s stock valued at $17,240,000 after purchasing an additional 81,350 shares during the period. SG Americas Securities LLC boosted its holdings in Power Solutions International by 12,036.6% in the 1st quarter. SG Americas Securities LLC now owns 216,395 shares of the company’s stock valued at $13,174,000 after purchasing an additional 214,612 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Power Solutions International by 6.2% during the 1st quarter. First Trust Advisors LP now owns 86,123 shares of the company’s stock valued at $5,243,000 after purchasing an additional 5,049 shares in the last quarter. Hedge funds and other institutional investors own 22.28% of the company’s stock.

About Power Solutions International

Power Solutions International, Inc (NASDAQ:PSIX) designs, engineers, manufactures and sells power systems and engines for a range of industrial and commercial applications. The company develops both complete engines and integrated power solutions, with products designed to meet the performance, emissions and packaging requirements of original equipment manufacturers.

Its product portfolio includes engines powered by gasoline, diesel, natural gas, propane and other alternative fuels. These systems are used in on-road vehicles, off-road equipment, material-handling vehicles, agricultural and construction machinery, generators and other stationary power applications.