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

Key Points

• Power Solutions International shares jumped 14.6%, opening at $43.49 versus a previous close of $40.09 and later trading around $44.61.
• Analyst sentiment is broadly positive: PSIX has an average “Buy” rating and a consensus price target of $99.95, although ratings include one Strong Buy, one Buy, and one Hold.
• The company reported quarterly earnings of $0.78 per share on $152.54 million in revenue, with a 10.03% net margin and 37.73% return on equity; institutional investors own 22.28% of its shares.

Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $40.09, but opened at $43.49. Power Solutions International shares last traded at $44.6050, with a volume of 228,935 shares.

Wall Street Analyst Weigh In

PSIX has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Power Solutions International from a "hold (c+)" rating to a "hold (c)" rating in a report 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 assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Power Solutions International currently has an average rating of "Buy" and an average target price of $99.95.

Power Solutions International Stock Up 14.6%

The company has a market capitalization of $1.06 billion, a P/E ratio of 15.54 and a beta of 2.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.57. The firm's fifty day moving average is $35.68 and its 200-day moving average is $47.77.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.78 earnings per share for the quarter. The firm had revenue of $152.54 million for the quarter. Power Solutions International had a net margin of 10.03% and a return on equity of 37.73%.

Institutional Investors Weigh In On Power Solutions International

Several hedge funds have recently modified their holdings of the company. Sequent Planning LLC lifted its stake in shares of Power Solutions International by 4.2% in the first quarter. Sequent Planning LLC now owns 6,423 shares of the company's stock worth $391,000 after acquiring an additional 260 shares during the period. Strs Ohio boosted its holdings in Power Solutions International by 16.7% in the first quarter. Strs Ohio now owns 2,100 shares of the company's stock valued at $128,000 after acquiring an additional 300 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its position in Power Solutions International by 4.9% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 6,712 shares of the company's stock valued at $384,000 after purchasing an additional 313 shares during the period. Kestra Advisory Services LLC increased its position in Power Solutions International by 8.1% during the 1st quarter. Kestra Advisory Services LLC now owns 5,399 shares of the company's stock valued at $329,000 after purchasing an additional 405 shares during the period. Finally, Thoroughbred Financial Services LLC raised its holdings in Power Solutions International by 1.9% during the 4th quarter. Thoroughbred Financial Services LLC now owns 24,896 shares of the company's stock worth $1,422,000 after purchasing an additional 459 shares during the last quarter. Institutional investors and hedge funds own 22.28% of the company's stock.

About Power Solutions International

Power Solutions International, Inc NASDAQ: PSIX designs, engineers, manufactures and supplies engines, power systems and related technologies for original equipment manufacturers. Its product portfolio includes engines powered by natural gas, propane, gasoline and diesel, along with electronic controls, fuel systems and other components used to manage and optimize engine performance.

The company serves a range of markets, including power generation, industrial equipment, construction, agriculture, material handling, transportation and other off-road applications.

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