Power Solutions International (NASDAQ:PSIX) Shares Gap Up - Time to Buy?

Key Points

• Power Solutions International shares jumped 20.1%, opening at $40.06 versus a prior close of $33.02 and later trading near $39.72.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating from three analysts, despite a consensus price target of $99.95; Freedom Capital recently downgraded it to “Hold.”
• The company reported quarterly EPS of $0.78 on revenue of $152.54 million, with a 14.28% net margin and 62.14% return on equity. Institutional investors own 22.28% of the shares.

Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $33.02, but opened at $40.06. Power Solutions International shares last traded at $39.7180, with a volume of 265,775 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Freedom Capital cut Power Solutions International from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 13th. Weiss Ratings downgraded Power Solutions International from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Power Solutions International has an average rating of "Hold" and a consensus target price of $99.95.

Power Solutions International Trading Up 20.1%

The stock has a 50-day moving average of $35.52 and a 200 day moving average of $56.73. The company has a quick ratio of 1.81, a current ratio of 3.42 and a debt-to-equity ratio of 0.55. The stock has a market cap of $914.26 million, a PE ratio of 8.93 and a beta of 2.01.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter. Power Solutions International had a net margin of 14.28% and a return on equity of 62.14%. The company had revenue of $152.54 million during the quarter.

Institutional Investors Weigh In On Power Solutions International

Several hedge funds have recently added to or reduced their stakes in PSIX. California State Teachers Retirement System purchased a new position in shares of Power Solutions International during the 2nd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Power Solutions International by 2,672.7% in 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 during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Power Solutions International in the first quarter worth about $33,000. New York State Teachers Retirement System acquired a new stake in Power Solutions International during the first quarter worth about $48,000. Finally, State of Wyoming purchased a new position in Power Solutions International during the fourth quarter valued at approximately $49,000. 22.28% of the stock is owned by hedge funds and other 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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