Power Solutions International (NASDAQ:PSIX) Shares Down 3.7% – What’s Next?

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price traded down 3.7% during trading on Monday . The stock traded as low as $65.01 and last traded at $65.0650. 87,054 shares changed hands during 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 analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Power Solutions International in a research note on Friday, March 27th. Loop Capital set a $107.00 price objective on shares of Power Solutions International in a report on Wednesday, March 4th. Jefferies Financial Group cut their target price on shares of Power Solutions International from $110.51 to $92.90 and set a “buy” rating on the stock in a research note on Tuesday, March 24th. Finally, Wall Street Zen cut shares of Power Solutions International from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Power Solutions International presently has an average rating of “Moderate Buy” and an average target price of $99.95.

Power Solutions International Stock Down 5.5%

The stock’s fifty day simple moving average is $71.66 and its two-hundred day simple moving average is $73.56. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.15 and a quick ratio of 1.77. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 12.93 and a beta of 2.19.

Hedge Funds Weigh In On Power Solutions International

Several institutional investors have recently made changes to their positions in PSIX. Truvestments Capital LLC raised its position in shares of Power Solutions International by 3.9% during the 4th quarter. Truvestments Capital LLC now owns 3,039 shares of the company’s stock worth $174,000 after purchasing an additional 114 shares during the period. Creative Planning boosted 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 valued at $1,063,000 after purchasing an additional 196 shares during the period. Russell Investments Group Ltd. boosted its position in Power Solutions International by 1.7% during the 4th quarter. Russell Investments Group Ltd. now owns 15,025 shares of the company’s stock valued at $859,000 after purchasing an additional 249 shares during the period. Federated Hermes Inc. acquired a new stake in Power Solutions International in the third quarter worth $26,000. Finally, Caitong International Asset Management Co. Ltd increased its position 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 worth $30,000 after buying an additional 294 shares during the period. 22.28% of the stock is owned by institutional investors.

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.