Power Solutions International (NASDAQ:PSIX) Shares Down 8.7% – Here’s Why

Power Solutions International, Inc. (NASDAQ:PSIX) fell 8.7% during mid-day trading on Tuesday . The stock traded as low as $89.17 and last traded at $90.13. 308,298 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 442,407 shares. The stock had previously closed at $98.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PSIX shares. Jefferies Financial Group assumed coverage on Power Solutions International in a research report on Monday, December 1st. They issued a “buy” rating and a $110.51 price objective on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Power Solutions International in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of Power Solutions International from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Power Solutions International presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.51.

Power Solutions International Price Performance

The stock has a market cap of $2.16 billion, a P/E ratio of 17.84 and a beta of 2.11. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.19 and a current ratio of 2.28. The firm has a 50-day moving average price of $71.70 and a 200-day moving average price of $78.62.

Institutional Investors Weigh In On Power Solutions International

Several hedge funds have recently bought and sold shares of the business. Mutual Advisors LLC bought a new stake in Power Solutions International in the second quarter worth $234,000. CreativeOne Wealth LLC purchased a new position in shares of Power Solutions International in the 2nd quarter worth about $424,000. Allspring Global Investments Holdings LLC bought a new position in Power Solutions International in the 3rd quarter worth about $19,001,000. Osaic Holdings Inc. grew its position in Power Solutions International by 102.3% during the 2nd quarter. Osaic Holdings Inc. now owns 44,759 shares of the company’s stock valued at $2,895,000 after purchasing an additional 22,637 shares during the last quarter. Finally, Aviance Capital Partners LLC bought a new stake in Power Solutions International during the 2nd quarter valued at about $243,000. 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.