Power Solutions International (NASDAQ:PSIX) Shares Gap Up - Here's What Happened

Key Points

• PSIX shares opened sharply higher, rising from the prior close of $35.87 to an opening price of $40.86; they later traded around $39.44.
• Analyst coverage gives the stock a consensus Buy rating and a $99.95 price target, based on one Strong Buy, one Buy, and one Hold rating.
• The company reported quarterly earnings of $1.30 per share on $202.07 million in revenue. Institutional investors and hedge funds own 22.28% of its shares.

Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report)'s stock price gapped up before the market opened on Friday. The stock had previously closed at $35.87, but opened at $40.86. Power Solutions International shares last traded at $39.4370, with a volume of 182,147 shares traded.

Analyst Upgrades and Downgrades

PSIX has been the topic of a number of analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Power Solutions International in a research note on Thursday, October 22nd. Freedom Capital raised shares of Power Solutions International from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $99.95.

Power Solutions International Stock Performance

The stock has a 50-day moving average of $44.78 and a 200 day moving average of $52.41. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.57 and a quick ratio of 1.49. The stock has a market capitalization of $885.68 million, a price-to-earnings ratio of 13.26 and a beta of 2.08.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $1.30 earnings per share for the quarter. Power Solutions International had a net margin of 10.03% and a return on equity of 37.73%. The company had revenue of $202.07 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSIX. Bank of New York Mellon Corp acquired a new stake in Power Solutions International during the 2nd quarter worth approximately $1,372,000. Tidal Investments LLC boosted its holdings in shares of Power Solutions International by 146.6% in the second quarter. Tidal Investments LLC now owns 72,447 shares of the company's stock valued at $2,817,000 after buying an additional 43,068 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Power Solutions International by 40.3% in the first quarter. Dimensional Fund Advisors LP now owns 283,241 shares of the company's stock valued at $17,240,000 after buying an additional 81,350 shares during the period. Newtyn Management LLC acquired a new position in shares of Power Solutions International in the second quarter valued at approximately $23,369,000. Finally, Bank of America Corp DE increased its position in shares of Power Solutions International by 183.9% during the first quarter. Bank of America Corp DE now owns 31,495 shares of the company's stock worth $1,917,000 after acquiring an additional 20,400 shares in the last quarter. 22.28% of the stock is owned by institutional investors and hedge funds.

About Power Solutions International

Power Solutions International, Inc NASDAQ: PSIX designs, engineers, manufactures and distributes power systems and engines for a range of commercial, industrial and specialty applications. The company develops powertrain solutions intended to meet the performance, emissions and packaging requirements of original equipment manufacturers and end users.

Its product portfolio includes engines powered by gasoline, diesel, natural gas and propane, along with related electronic controls, fuel systems and power-management technologies.

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