Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Still a Buy?
by Kim Johansen · The Markets DailyPower Solutions International, Inc. (NASDAQ:PSIX – Get Free Report) gapped up before the market opened on Friday. The stock had previously closed at $46.60, but opened at $50.00. Power Solutions International shares last traded at $51.2170, with a volume of 17,301 shares trading hands.
Analysts Set New Price Targets
Several brokerages recently commented on PSIX. Weiss Ratings cut Power Solutions International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Freedom Capital raised Power Solutions International from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $99.95.
Get Our Latest Stock Report on PSIX
Power Solutions International Stock Performance
The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 17.41 and a beta of 2.01. The company has a 50 day moving average of $42.52 and a 200 day moving average of $45.99. The company has a quick ratio of 1.49, a current ratio of 2.57 and a debt-to-equity ratio of 0.35.
Hedge Funds Weigh In On Power Solutions International
Large investors have recently made changes to their positions in the business. Newtyn Management LLC bought a new stake in shares of Power Solutions International in the second quarter valued at approximately $23,369,000. SG Americas Securities LLC increased its holdings in Power Solutions International by 12,036.6% during the first quarter. SG Americas Securities LLC now owns 216,395 shares of the company’s stock worth $13,174,000 after buying an additional 214,612 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Power Solutions International by 40.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 283,241 shares of the company’s stock valued at $17,240,000 after purchasing an additional 81,350 shares during the period. Cvfg LLC acquired a new position in Power Solutions International in the first quarter valued at about $3,663,000. Finally, Tidal Investments LLC lifted its position in shares of Power Solutions International by 146.6% during the 2nd quarter. Tidal Investments LLC now owns 72,447 shares of the company’s stock valued at $2,817,000 after acquiring an additional 43,068 shares during the period. Institutional investors and hedge funds own 22.28% of the company’s stock.
About Power Solutions International
Power Solutions International, Inc (NASDAQ:PSIX) designs, engineers, manufactures and sells power systems and engines for a range of industrial and commercial applications. The company develops both complete engines and integrated power solutions, with products designed to meet the performance, emissions and packaging requirements of original equipment manufacturers.
Its product portfolio includes engines powered by gasoline, diesel, natural gas, propane and other alternative fuels. These systems are used in on-road vehicles, off-road equipment, material-handling vehicles, agricultural and construction machinery, generators and other stationary power applications.