Power Solutions International (NASDAQ:PSIX) Trading Down 3.7% – Here’s What Happened

Power Solutions International, Inc. (NASDAQ:PSIX) fell 3.7% during trading on Monday . The stock traded as low as $65.01 and last traded at $65.0650. 87,054 shares were traded during mid-day trading, a decline of 85% from the average session volume of 565,148 shares. The stock had previously closed at $67.55.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Power Solutions International from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Jefferies Financial Group decreased their price target on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Power Solutions International in a research note on Friday, March 27th. Finally, Loop Capital set a $107.00 price objective on Power Solutions International in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Power Solutions International has a consensus rating of “Moderate Buy” and an average target price of $99.95.

Power Solutions International Price Performance

The stock’s 50 day moving average is $71.20 and its two-hundred day moving average is $72.93. The stock has a market capitalization of $1.44 billion, a PE ratio of 12.62 and a beta of 2.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.15 and a quick ratio of 1.77.

Institutional Investors Weigh In On Power Solutions International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. acquired a new position in shares of Power Solutions International during the third quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its stake in Power Solutions International by 2,672.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 294 shares in the last quarter. California State Teachers Retirement System purchased a new stake in Power Solutions International during the 2nd quarter worth about $26,000. State of Wyoming acquired a new position in shares of Power Solutions International during the 4th quarter worth about $49,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Power Solutions International during the 3rd quarter worth about $98,000. 22.28% of the stock is currently owned by institutional investors and hedge funds.

About Power Solutions International

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.