Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Here’s What Happened

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price gapped up prior to trading on Friday. The stock had previously closed at $46.60, but opened at $50.00. Power Solutions International shares last traded at $51.2170, with a volume of 17,301 shares traded.

Analysts Set New Price Targets

A number of research firms have issued reports on PSIX. Freedom Capital upgraded shares of Power Solutions International from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Weiss Ratings lowered Power Solutions International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $99.95.

Power Solutions International Price Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.57. The company has a market cap of $1.18 billion, a PE ratio of 17.41 and a beta of 2.01. The company’s 50-day simple moving average is $42.52 and its 200 day simple moving average is $45.99.

Institutional Trading of Power Solutions International

A number of institutional investors and hedge funds have recently made changes to their positions in PSIX. State of Alaska Department of Revenue grew its position in Power Solutions International by 15.1% in the third quarter. State of Alaska Department of Revenue now owns 9,383 shares of the company’s stock worth $430,000 after buying an additional 1,229 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Power Solutions International by 146.6% in the 2nd quarter. Tidal Investments LLC now owns 72,447 shares of the company’s stock valued at $2,817,000 after buying an additional 43,068 shares during the period. Integrated Wealth Concepts LLC bought a new position in Power Solutions International during the 2nd quarter worth approximately $63,000. AlphaGrep UK Ltd acquired a new position in shares of Power Solutions International in the second quarter valued at approximately $218,000. Finally, Triumph Capital Management boosted its stake in shares of Power Solutions International by 32.9% during the 2nd quarter. Triumph Capital Management now owns 4,924 shares of the company’s stock worth $191,000 after buying an additional 1,219 shares during the last quarter. 22.28% of the stock is currently owned by institutional investors and hedge funds.

About Power Solutions International

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.