Power Solutions International (NASDAQ:PSIX) Announces Earnings Results

Power Solutions International (NASDAQ:PSIX) released its quarterly earnings results on Thursday. The company reported $1.30 earnings per share (EPS) for the quarter, FiscalAI reports. Power Solutions International had a net margin of 10.03% and a return on equity of 37.73%. The company had revenue of $202.07 million for the quarter.

Power Solutions International Trading Up 9.2%

PSIX traded up $3.29 during trading on Friday, reaching $39.16. The company had a trading volume of 1,113,943 shares, compared to its average volume of 420,141. The company has a quick ratio of 1.49, a current ratio of 2.57 and a debt-to-equity ratio of 0.35. The business has a 50 day simple moving average of $44.81 and a 200-day simple moving average of $52.22. The stock has a market cap of $903.42 million, a P/E ratio of 12.84 and a beta of 2.08. Power Solutions International has a 52 week low of $25.28 and a 52 week high of $106.50.

Wall Street Analyst Weigh In

PSIX has been the topic of a number of research reports. Wall Street Zen upgraded shares of Power Solutions International from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Power Solutions International in a research report on Thursday, October 22nd. Finally, Freedom Capital upgraded Power Solutions International from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Power Solutions International has a consensus rating of “Buy” and an average price target of $99.95.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in Power Solutions International by 415.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 14,107 shares of the company’s stock valued at $649,000 after purchasing an additional 11,372 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in Power Solutions International in the third quarter worth about $100,000. Allspring Global Investments Holdings LLC lifted its stake in Power Solutions International by 5.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,169 shares of the company’s stock worth $371,000 after purchasing an additional 387 shares during the last quarter. Quadcap Wealth Management LLC bought a new stake in Power Solutions International in the third quarter worth about $321,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Power Solutions International during the third quarter valued at approximately $206,000. Institutional investors own 22.28% of the company’s stock.

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.