Power Solutions International (NASDAQ:PSIX) Stock Jumps 5.4% – Time to Buy?

Power Solutions International, Inc. (NASDAQ:PSIX) shot up 5.4% during mid-day trading on Tuesday. The stock traded as high as $52.55 and last traded at $52.8010. Approximately 224,163 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 571,263 shares. The stock had previously closed at $50.10.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PSIX shares. Weiss Ratings lowered Power Solutions International from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, July 24th. Freedom Capital raised Power Solutions International from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $99.95.

Power Solutions International Stock Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 2.57 and a quick ratio of 1.49. The stock has a 50 day simple moving average of $41.53 and a two-hundred day simple moving average of $46.23. The company has a market cap of $1.21 billion, a PE ratio of 17.79 and a beta of 2.01.

Hedge Funds Weigh In On Power Solutions International

A number of hedge funds have recently modified their holdings of PSIX. Newtyn Management LLC acquired a new position in shares of Power Solutions International in the 2nd quarter valued at $23,369,000. SG Americas Securities LLC raised its position 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 last quarter. Dimensional Fund Advisors LP boosted its stake in Power Solutions International by 40.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 283,241 shares of the company’s stock worth $17,240,000 after purchasing an additional 81,350 shares during the period. Cvfg LLC acquired a new stake in Power Solutions International during the 1st quarter worth $3,663,000. Finally, Tidal Investments LLC boosted its stake in Power Solutions International by 146.6% during the 2nd quarter. Tidal Investments LLC now owns 72,447 shares of the company’s stock worth $2,817,000 after purchasing an additional 43,068 shares during the period. 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 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.