Power Solutions International (NASDAQ:PSIX) Trading Up 10.5% – What’s Next?

Shares of Power Solutions International, Inc. (NASDAQ:PSIX) traded up 10.5% during mid-day trading on Tuesday . The stock traded as high as $43.28 and last traded at $42.94. 237,555 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 689,405 shares. The stock had previously closed at $38.87.

Analyst Ratings Changes

Several brokerages recently commented on PSIX. Loop Capital set a $107.00 price objective on Power Solutions International in a research note on Wednesday, March 4th. Freedom Capital lowered Power Solutions International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Jefferies Financial Group cut their price objective on Power Solutions International from $110.51 to $92.90 and set a “buy” rating on the stock in a report on Tuesday, March 24th. Weiss Ratings cut Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a research note 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 equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $99.95.

Power Solutions International Trading Up 10.9%

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

Institutional Trading of Power Solutions International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new position in Power Solutions International during the first quarter worth $625,000. Acadian Asset Management LLC bought a new position in shares of Power Solutions International in the 1st quarter valued at about $112,000. JPMorgan Chase & Co. increased its position in shares of Power Solutions International by 36.1% in the second quarter. JPMorgan Chase & Co. now owns 3,097 shares of the company’s stock valued at $200,000 after acquiring an additional 821 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Power Solutions International in the second quarter valued at about $361,000. Finally, Rhumbline Advisers bought a new stake in Power Solutions International during the second quarter worth about $610,000. 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.