Navellier & Associates Inc. reduced its position in Power Solutions International, Inc. (NASDAQ:PSIX - Free Report) by 90.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,224 shares of the company's stock after selling 97,278 shares during the period. Navellier & Associates Inc.'s holdings in Power Solutions International were worth $398,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new position in Power Solutions International during the first quarter worth approximately $625,000. Acadian Asset Management LLC acquired a new stake in shares of Power Solutions International during the first quarter worth about $112,000. JPMorgan Chase & Co. grew its holdings in shares of Power Solutions International by 36.1% during the second quarter. JPMorgan Chase & Co. now owns 3,097 shares of the company's stock worth $200,000 after buying an additional 821 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Power Solutions International during the second quarter worth about $361,000. Finally, Rhumbline Advisers acquired a new position in Power Solutions International in the 2nd quarter valued at about $610,000. 22.28% of the stock is owned by institutional investors and hedge funds.
Power Solutions International Price Performance
PSIX opened at $36.28 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.57 and a quick ratio of 1.49. Power Solutions International, Inc. has a 12 month low of $25.28 and a 12 month high of $119.70. The stock has a market capitalization of $836.98 million, a P/E ratio of 12.30 and a beta of 2.02. The business has a 50 day simple moving average of $35.17 and a 200-day simple moving average of $52.54.
Power Solutions International (NASDAQ:PSIX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.78 earnings per share for the quarter. Power Solutions International had a return on equity of 37.73% and a net margin of 10.03%.The firm had revenue of $152.54 million for the quarter.
Wall Street Analyst Weigh In
Several research firms have commented on PSIX. Weiss Ratings downgraded Power Solutions International from a "hold (c+)" rating to a "hold (c)" rating in a research note 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 analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $99.95.
Read Our Latest Stock Analysis on PSIX
About Power Solutions International
(
Free Report)
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.
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