Power Solutions International (NASDAQ:PSIX) Hits New 52-Week Low - Here's Why

Key Points

• Power Solutions International (NASDAQ:PSIX) hit a new 52-week low on Monday, falling to as low as $29.45 before last trading near $29.82.
• Recent analyst actions have turned more cautious, with Weiss Ratings and Freedom Capital both downgrading the stock to Hold and Jefferies cutting its price target from $110.51 to $92.90.
• Despite the weak share performance, the company still has a consensus Hold rating and a market cap of about $698.5 million, while institutional ownership stands at 22.28%.

Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $29.45 and last traded at $29.8150, with a volume of 66489 shares traded. The stock had previously closed at $30.25.

Analysts Set New Price Targets

A number of brokerages recently commented on PSIX. Weiss Ratings downgraded Power Solutions International from a "buy (b)" rating to a "hold (c+)" rating in a report on Wednesday, May 13th. Jefferies Financial Group dropped their price objective on Power Solutions International from $110.51 to $92.90 and set a "buy" rating on the stock in a report on Tuesday, March 24th. Finally, Freedom Capital lowered Power Solutions International from a "strong-buy" rating to a "hold" rating in a research 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 MarketBeat.com, Power Solutions International currently has an average rating of "Hold" and a consensus target price of $99.95.

Power Solutions International Price Performance

The company's 50-day moving average price is $38.69 and its two-hundred day moving average price is $60.31. The company has a market cap of $698.53 million, a P/E ratio of 6.81 and a beta of 2.00. The company has a current ratio of 3.42, a quick ratio of 1.81 and a debt-to-equity ratio of 0.55.

Institutional Trading of Power Solutions International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new position in shares of Power Solutions International in the 2nd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of Power Solutions International by 2,672.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company's stock valued at $30,000 after acquiring an additional 294 shares in the last quarter. Global Assets Advisory LLC bought a new position in Power Solutions International during the first quarter worth $33,000. New York State Teachers Retirement System acquired a new position in Power Solutions International in the first quarter worth $48,000. Finally, State of Wyoming acquired a new position in Power Solutions International in the fourth quarter worth $49,000. 22.28% of the stock is owned by 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.

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