Power Solutions International (NASDAQ:PSIX) Trading 7.9% Higher – Time to Buy?

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price shot up 7.9% during mid-day trading on Thursday . The stock traded as high as $40.65 and last traded at $41.2980. 103,214 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 679,215 shares. The stock had previously closed at $38.29.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PSIX. Wall Street Zen cut shares of Power Solutions International from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Loop Capital set a $107.00 price objective on shares of Power Solutions International in a report on Wednesday, March 4th. Jefferies Financial Group decreased their price objective 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. 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, Weiss Ratings cut shares of Power Solutions International from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. One research 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.com, Power Solutions International currently has an average rating of “Hold” and an average target price of $99.95.

Power Solutions International Price Performance

The company has a quick ratio of 1.81, a current ratio of 3.42 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average price is $58.59 and its two-hundred day moving average price is $64.89. The stock has a market capitalization of $930.76 million, a PE ratio of 9.10 and a beta of 2.00.

Institutional Trading of Power Solutions International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Power Solutions International by 38.9% during the third quarter. Vanguard Group Inc. now owns 502,381 shares of the company’s stock valued at $49,344,000 after buying an additional 140,743 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Power Solutions International by 5.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 466,204 shares of the company’s stock valued at $28,382,000 after buying an additional 23,108 shares during the last quarter. Situational Awareness LP purchased a new stake in Power Solutions International during the fourth quarter valued at approximately $24,702,000. Allspring Global Investments Holdings LLC increased its holdings in Power Solutions International by 59.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 328,761 shares of the company’s stock valued at $20,229,000 after buying an additional 122,672 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Power Solutions International by 40.3% during the first quarter. Dimensional Fund Advisors LP now owns 283,241 shares of the company’s stock valued at $17,240,000 after buying an additional 81,350 shares during the last quarter. 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.