Power Solutions International (NASDAQ:PSIX) Hits New 52-Week Low – Here’s Why

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $29.45 and last traded at $29.8150, with a volume of 66489 shares. The stock had previously closed at $30.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Freedom Capital cut shares of Power Solutions International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Jefferies Financial Group decreased their target price on Power Solutions International from $110.51 to $92.90 and set a “buy” rating for the company in a research note on Tuesday, March 24th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $99.95.

Power Solutions International Stock 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 50 day moving average of $38.69 and a 200 day moving average of $60.31. The stock has a market capitalization of $698.53 million, a P/E ratio of 6.81 and a beta of 2.00.

Hedge Funds Weigh In On Power Solutions International

Several institutional investors have recently modified their holdings of the company. California State Teachers Retirement System acquired a new stake in shares of Power Solutions International in the 2nd quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its stake in Power Solutions International by 2,672.7% during the 3rd 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 during the period. Global Assets Advisory LLC bought a new position in Power Solutions International in the 1st quarter worth about $33,000. New York State Teachers Retirement System bought a new position in Power Solutions International in the 1st quarter worth about $48,000. Finally, State of Wyoming acquired a new stake in shares of Power Solutions International in the fourth quarter valued at approximately $49,000. 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.