Power Solutions International (NASDAQ:PSIX) Stock Price Down 3.6% – Here’s What Happened

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price traded down 3.6% on Wednesday . The company traded as low as $56.89 and last traded at $57.07. 271,021 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 521,351 shares. The stock had previously closed at $59.19.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PSIX. Wall Street Zen cut shares of Power Solutions International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th. Jefferies Financial Group began coverage on Power Solutions International in a research report on Monday, December 1st. They issued a “buy” rating and a $110.51 price objective for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Power Solutions International in a report on Monday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.51.

Power Solutions International Trading Down 4.2%

The company has a 50 day moving average of $65.89 and a 200 day moving average of $78.43. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 10.79 and a beta of 2.01. The company has a current ratio of 2.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.59.

Power Solutions International (NASDAQ:PSIX) last issued its quarterly earnings data on Thursday, November 6th. The company reported $1.20 earnings per share (EPS) for the quarter. Power Solutions International had a return on equity of 109.04% and a net margin of 17.94%.The company had revenue of $203.83 million during the quarter.

Hedge Funds Weigh In On Power Solutions International

Institutional investors have recently bought and sold shares of the business. Creative Planning lifted its position in Power Solutions International by 1.8% during the 3rd quarter. Creative Planning now owns 10,819 shares of the company’s stock worth $1,063,000 after buying an additional 196 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Power Solutions International in the third quarter worth about $26,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 purchasing an additional 294 shares in the last quarter. Wolff Wiese Magana LLC bought a new position in Power Solutions International in the 2nd quarter worth approximately $26,000. Finally, California State Teachers Retirement System acquired a new position in Power Solutions International during the 2nd quarter worth $26,000. Institutional investors own 22.28% of the company’s stock.

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.