Forgent Power Solutions (NYSE:FPS) Shares Gap Down – Should You Sell?

Forgent Power Solutions, Inc. (NYSE:FPS)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $49.84, but opened at $46.08. Forgent Power Solutions shares last traded at $46.9790, with a volume of 828,597 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on FPS. Weiss Ratings raised Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. TD Securities reissued a “buy” rating and issued a $63.00 target price on shares of Forgent Power Solutions in a research note on Friday, May 15th. JPMorgan Chase & Co. began coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They issued an “overweight” rating and a $40.00 target price on the stock. Jefferies Financial Group started coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They issued a “buy” rating and a $44.00 target price on the stock. Finally, Oppenheimer increased their target price on shares of Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.73.

Forgent Power Solutions Stock Performance

The stock has a fifty day simple moving average of $37.23.

About Forgent Power Solutions

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.