Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Here’s Why

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price gapped up before the market opened on Tuesday. The stock had previously closed at $45.63, but opened at $48.19. Power Solutions International shares last traded at $47.9470, with a volume of 7,592 shares.

Wall Street Analyst Weigh In

PSIX has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Power Solutions International in a report on Thursday. Freedom Capital raised shares of Power Solutions International from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Power Solutions International has a consensus rating of “Buy” and a consensus target price of $99.95.

Power Solutions International Trading Up 2.7%

The business has a 50 day simple moving average of $43.42 and a 200-day simple moving average of $53.40. 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 $1.12 billion, a price-to-earnings ratio of 16.49 and a beta of 2.01.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Global Assets Advisory LLC acquired a new stake in shares of Power Solutions International in the first quarter worth approximately $33,000. New York State Teachers Retirement System acquired a new position in Power Solutions International during the first quarter worth approximately $48,000. Integrated Wealth Concepts LLC acquired a new position in Power Solutions International during the second quarter worth approximately $63,000. Rockefeller Capital Management L.P. increased its position in Power Solutions International by 178.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,812 shares of the company’s stock worth $104,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Hamilton Wealth LLC purchased a new position in Power Solutions International during the first quarter worth approximately $120,000. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

Power Solutions International Company Profile

Power Solutions International, Inc (NASDAQ: PSIX) designs, engineers, manufactures and distributes power systems and engines for a range of commercial, industrial and specialty applications. The company develops powertrain solutions intended to meet the performance, emissions and packaging requirements of original equipment manufacturers and end users.

Its product portfolio includes engines powered by gasoline, diesel, natural gas and propane, along with related electronic controls, fuel systems and power-management technologies.