Power Solutions International (NASDAQ:PSIX) Trading Up 10.5% – Should You Buy?

Power Solutions International, Inc. (NASDAQ:PSIX)’s stock price was up 10.5% on Tuesday . The stock traded as high as $43.28 and last traded at $42.94. Approximately 237,555 shares were traded during trading, a decline of 66% from the average daily volume of 689,405 shares. The stock had previously closed at $38.87.

Analysts Set New Price Targets

PSIX has been the topic of several analyst reports. Freedom Capital lowered shares of Power Solutions International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Loop Capital set a $107.00 target price on shares of Power Solutions International in a report on Wednesday, March 4th. Jefferies Financial Group reduced their price target on Power Solutions International from $110.51 to $92.90 and set a “buy” rating for the company in a report on Tuesday, March 24th. Weiss Ratings lowered shares of Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of Power Solutions International from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $99.95.

Power Solutions International Trading Up 10.9%

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.81 and a current ratio of 3.42. The company has a market capitalization of $993.46 million, a price-to-earnings ratio of 9.71 and a beta of 2.21. The firm has a fifty day moving average price of $62.65 and a 200-day moving average price of $66.79.

Hedge Funds Weigh In On Power Solutions International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. acquired a new stake in shares of Power Solutions International during the 3rd quarter worth approximately $26,000. California State Teachers Retirement System acquired a new stake in Power Solutions International in the second quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in Power Solutions International by 2,672.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Power Solutions International in the 1st quarter valued at about $33,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Power Solutions International in the 1st quarter valued at about $48,000. 22.28% of the stock is currently owned by institutional investors and hedge funds.

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.