Power Solutions International (NASDAQ:PSIX) Stock Jumps 8% - Time to Buy?

Key Points

• Power Solutions International shares jumped 8% to about $52.31, although trading volume was roughly 70% below the average session volume.
• Analyst sentiment is broadly positive: the stock has an average “Buy” rating and a consensus price target of $99.95, with one firm recently upgrading it to “Strong Buy.”
• Institutional ownership stands at 22.28%, while several funds recently increased their positions. The company has a $1.21 billion market capitalization, a 17.72 P/E ratio and a 0.35 debt-to-equity ratio.

Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report) shot up 8% during trading on Wednesday. The company traded as high as $52.18 and last traded at $52.3110. 172,602 shares were traded during mid-day trading, a decline of 70% from the average session volume of 567,502 shares. The stock had previously closed at $48.43.

Wall Street Analyst Weigh In

PSIX has been the topic of several recent research reports. Freedom Capital upgraded Power Solutions International from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Weiss Ratings downgraded Power Solutions International from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, July 24th. One 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 MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $99.95.

Power Solutions International Trading Up 7.9%

The company has a current ratio of 2.57, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $42.88 and a 200-day moving average price of $45.71. The firm has a market capitalization of $1.21 billion, a PE ratio of 17.72 and a beta of 2.01.

Hedge Funds Weigh In On Power Solutions International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its position in Power Solutions International by 15.1% during the third quarter. State of Alaska Department of Revenue now owns 9,383 shares of the company's stock worth $430,000 after purchasing an additional 1,229 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Power Solutions International by 146.6% during the 2nd quarter. Tidal Investments LLC now owns 72,447 shares of the company's stock worth $2,817,000 after buying an additional 43,068 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Power Solutions International during the 2nd quarter worth $63,000. AlphaGrep UK Ltd purchased a new stake in shares of Power Solutions International in the 2nd quarter worth about $218,000. Finally, Triumph Capital Management grew its stake in Power Solutions International by 32.9% in the 2nd quarter. Triumph Capital Management now owns 4,924 shares of the company's stock valued at $191,000 after acquiring an additional 1,219 shares during the last quarter. 22.28% of the stock is owned by institutional investors and hedge funds.

Power Solutions International Company Profile

Power Solutions International, Inc NASDAQ: PSIX designs, engineers, manufactures and sells power systems and engines for a range of industrial and commercial applications. The company develops both complete engines and integrated power solutions, with products designed to meet the performance, emissions and packaging requirements of original equipment manufacturers.

Its product portfolio includes engines powered by gasoline, diesel, natural gas, propane and other alternative fuels. These systems are used in on-road vehicles, off-road equipment, material-handling vehicles, agricultural and construction machinery, generators and other stationary power applications.

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