Power Solutions International (NASDAQ:PSIX) Shares Down 7.3% – Should You Sell?

Power Solutions International, Inc. (NASDAQ:PSIX) was down 7.3% during mid-day trading on Tuesday . The company traded as low as $36.28 and last traded at $36.0750. Approximately 680,945 shares changed hands during trading, a decline of 2% from the average daily volume of 691,559 shares. The stock had previously closed at $38.93.

Analyst Upgrades and Downgrades

PSIX has been the topic of several recent research reports. Wall Street Zen cut Power Solutions International from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings cut Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Freedom Capital downgraded Power Solutions International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Jefferies Financial Group reduced their target price on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating for the company in a report on Tuesday, March 24th. Finally, Loop Capital set a $107.00 price target on shares of Power Solutions International in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $99.95.

Power Solutions International Trading Up 7.1%

The company has a 50 day moving average of $63.41 and a two-hundred day moving average of $67.47. The stock has a market capitalization of $912.55 million, a PE ratio of 8.92 and a beta of 2.21. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.81 and a current ratio of 3.42.

Hedge Funds Weigh In On Power Solutions International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in Power Solutions International by 59.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 328,761 shares of the company’s stock valued at $20,229,000 after purchasing an additional 122,672 shares in the last quarter. Navellier & Associates Inc. lifted its stake in shares of Power Solutions International by 58.6% during the fourth quarter. Navellier & Associates Inc. now owns 101,729 shares of the company’s stock worth $5,813,000 after buying an additional 37,569 shares during the period. Ruffer LLP purchased a new stake in shares of Power Solutions International during the fourth quarter valued at $2,178,000. Principal Financial Group Inc. purchased a new stake in shares of Power Solutions International during the third quarter valued at $1,588,000. Finally, Verde Servicos Internacionais S.A. acquired a new position in shares of Power Solutions International in the 3rd quarter valued at $1,196,000. 22.28% of the stock is owned by hedge funds and other institutional investors.

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.