Power Solutions International (NASDAQ:PSIX) Shares Down 8.7% – Here’s Why

Shares of Power Solutions International, Inc. (NASDAQ:PSIX) were down 8.7% during mid-day trading on Tuesday . The company traded as low as $89.17 and last traded at $90.13. Approximately 308,298 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 442,407 shares. The stock had previously closed at $98.77.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Power Solutions International in a research note on Monday, December 29th. Wall Street Zen lowered Power Solutions International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Jefferies Financial Group assumed coverage on Power Solutions International in a research report on Monday, December 1st. They set a “buy” rating and a $110.51 target price for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.51.

Power Solutions International Trading Down 6.3%

The business has a 50 day simple moving average of $73.22 and a 200-day simple moving average of $78.79. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 17.10 and a beta of 2.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 1.19.

Hedge Funds Weigh In On Power Solutions International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Situational Awareness LP bought a new stake in shares of Power Solutions International in the fourth quarter valued at about $24,702,000. Arrowstreet Capital Limited Partnership raised its position in Power Solutions International by 344.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 325,085 shares of the company’s stock valued at $31,930,000 after buying an additional 251,883 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Power Solutions International in the 4th quarter valued at approximately $13,052,000. Busey Bank acquired a new position in Power Solutions International during the 3rd quarter worth approximately $21,608,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Power Solutions International during the 3rd quarter worth approximately $19,001,000. 22.28% of the stock is owned by institutional investors and hedge funds.

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.