Power Solutions International (NASDAQ:PSIX) Shares Down 9.8% - Here's What Happened

Key Points

• Shares fell 9.8% to $54.10 on Thursday, with 676,321 shares traded — about 35% above the average — after a prior close of $60.00.
• Analysts maintain a consensus Moderate Buy rating with an average price target of $104.26 (two Buys, one Hold); recent price targets reached about $110.51 while Wall Street Zen cut its rating from "strong-buy" to "buy."
• Power Solutions International has a market cap of $1.24 billion, a P/E of 10.83, roughly 22% institutional ownership, and several funds (including Geode and Goldman Sachs) recently established or increased positions.

Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report)'s stock price fell 9.8% on Thursday . The company traded as low as $54.10 and last traded at $54.10. 676,321 shares traded hands during mid-day trading, an increase of 35% from the average session volume of 502,567 shares. The stock had previously closed at $60.00.

Wall Street Analysts Forecast Growth

PSIX has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Power Solutions International from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 13th. Loop Capital set a $107.00 price objective on shares of Power Solutions International in a research report on Wednesday. Jefferies Financial Group started coverage on Power Solutions International in a report on Monday, December 1st. They issued a "buy" rating and a $110.51 target price for the company. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Power Solutions International in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $104.26.

Power Solutions International Price Performance

The company's 50-day simple moving average is $76.39 and its 200 day simple moving average is $78.23. The company has a market capitalization of $1.24 billion, a P/E ratio of 10.83 and a beta of 2.04. The company has a quick ratio of 1.19, a current ratio of 3.15 and a debt-to-equity ratio of 0.54.

Hedge Funds Weigh In On Power Solutions International

Several institutional investors have recently bought and sold shares of PSIX. Goldman Sachs Group Inc. acquired a new position in shares of Power Solutions International during the 1st quarter valued at about $625,000. Acadian Asset Management LLC bought a new stake in Power Solutions International during the first quarter worth approximately $112,000. Rathbones Group PLC acquired a new position in Power Solutions International during the second quarter valued at approximately $239,000. Geode Capital Management LLC raised its position in shares of Power Solutions International by 102.2% in the second quarter. Geode Capital Management LLC now owns 154,383 shares of the company's stock valued at $9,987,000 after purchasing an additional 78,034 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Power Solutions International in the second quarter worth $92,000. 22.28% of the stock is currently owned by institutional investors.

Power Solutions International Company Profile

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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