Short Interest in Power Solutions International, Inc. (NASDAQ:PSIX) Drops By 17.9%

Power Solutions International, Inc. (NASDAQ:PSIX) was the target of a significant decline in short interest in February. As of February 27th, there was short interest totaling 1,140,321 shares, a decline of 17.9% from the February 12th total of 1,388,891 shares. Based on an average daily trading volume, of 391,974 shares, the days-to-cover ratio is currently 2.9 days. Currently, 5.0% of the company’s shares are sold short. Currently, 5.0% of the company’s shares are sold short. Based on an average daily trading volume, of 391,974 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PSIX. Federated Hermes Inc. purchased a new stake in Power Solutions International during the 3rd quarter worth about $26,000. California State Teachers Retirement System acquired a new position in shares of Power Solutions International during the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd grew its position in shares of Power Solutions International by 2,672.7% during 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 in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Power Solutions International during the second quarter worth approximately $43,000. Finally, State of Wyoming purchased a new stake in shares of Power Solutions International during the fourth quarter worth approximately $49,000. 22.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group began coverage on Power Solutions International in a research note on Monday, December 1st. They set a “buy” rating and a $110.51 target price on the stock. Wall Street Zen downgraded Power Solutions International from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Power Solutions International in a research note on Monday, December 29th. Finally, Loop Capital set a $107.00 price target on shares of Power Solutions International in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.26.

Power Solutions International Stock Up 4.4%

Shares of NASDAQ:PSIX traded up $2.52 during trading on Monday, hitting $59.26. The company’s stock had a trading volume of 850,623 shares, compared to its average volume of 560,681. Power Solutions International has a fifty-two week low of $18.10 and a fifty-two week high of $121.78. The business has a 50 day moving average price of $75.47 and a two-hundred day moving average price of $76.73. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.77 and a current ratio of 3.15. The company has a market capitalization of $1.37 billion, a PE ratio of 11.97 and a beta of 2.03.

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.