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

Key Points

• Power Solutions International shares jumped 2.7%, opening at $48.19 versus a prior close of $45.63, with the latest trading price near $47.95.
• Analyst sentiment is favorable: Freedom Capital upgraded the stock to “strong buy,” while the overall consensus is “Buy” with an average price target of $99.95.
• Institutional investors own 22.28% of the company, with several funds—including Arrowstreet Capital and Dimensional Fund Advisors—increasing their positions recently.

Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report) shares gapped up before the market opened on Tuesday. The stock had previously closed at $45.63, but opened at $48.19. Power Solutions International shares last traded at $47.9470, with a volume of 7,592 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Freedom Capital raised Power Solutions International from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Weiss Ratings restated a "hold (c)" rating on shares of Power Solutions International in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $99.95.

Power Solutions International Stock Up 2.7%

The firm's fifty day simple moving average is $43.42 and its 200-day simple moving average is $53.40. The company has a market cap of $1.12 billion, a PE ratio of 16.49 and a beta of 2.01. The company has a quick ratio of 1.49, a current ratio of 2.57 and a debt-to-equity ratio of 0.35.

Institutional Investors Weigh In On Power Solutions International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its position in Power Solutions International by 5.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 466,204 shares of the company's stock worth $28,382,000 after buying an additional 23,108 shares in the last quarter. Newtyn Management LLC purchased a new stake in shares of Power Solutions International in the second quarter valued at $23,369,000. Dimensional Fund Advisors LP lifted its position 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 acquiring an additional 81,350 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Power Solutions International by 6.2% during the first quarter. First Trust Advisors LP now owns 86,123 shares of the company's stock valued at $5,243,000 after acquiring an additional 5,049 shares during the last quarter. Finally, Cvfg LLC acquired a new stake in shares of Power Solutions International during the first quarter valued at $3,663,000. Hedge funds and other institutional investors own 22.28% of the company's stock.

Power Solutions International Company Profile

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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