Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Time to Buy?

Power Solutions International, Inc. (NASDAQ:PSIX) gapped up before the market opened on Friday . The stock had previously closed at $33.02, but opened at $40.06. Power Solutions International shares last traded at $39.7180, with a volume of 265,775 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on PSIX. Weiss Ratings lowered shares of Power Solutions International from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, July 24th. Freedom Capital downgraded shares of Power Solutions International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $99.95.

Power Solutions International Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.81 and a current ratio of 3.42. The stock has a market capitalization of $914.26 million, a PE ratio of 8.93 and a beta of 2.01. The stock’s 50 day moving average is $35.52 and its two-hundred day moving average is $56.73.

Power Solutions International (NASDAQ:PSIX) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.78 EPS for the quarter. Power Solutions International had a return on equity of 62.14% and a net margin of 14.28%.The company had revenue of $152.54 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Power Solutions International during the 2nd quarter worth $1,372,000. World Equity Group Inc. grew its stake in Power Solutions International by 16.1% during the 2nd quarter. World Equity Group Inc. now owns 20,681 shares of the company’s stock valued at $804,000 after acquiring an additional 2,873 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Power Solutions International by 33.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 21,546 shares of the company’s stock valued at $838,000 after acquiring an additional 5,396 shares in the last quarter. Hamilton Wealth LLC acquired a new stake in Power Solutions International in the 1st quarter valued at about $120,000. Finally, Bank of America Corp DE lifted its stake in Power Solutions International by 183.9% in the 1st quarter. Bank of America Corp DE now owns 31,495 shares of the company’s stock worth $1,917,000 after purchasing an additional 20,400 shares in the last quarter. 22.28% of the stock is 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.