Power Solutions International Inc. (NASDAQ:PSIX) was downgraded by equities researchers at Lake Street Capital from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
A number of large investors recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in Power Solutions International by 6.4% in the first quarter. Wellington Management Group LLP now owns 1,240,860 shares of the company’s stock worth $17,124,000 after buying an additional 74,980 shares in the last quarter. Royce & Associates LP boosted its stake in Power Solutions International by 157.4% in the first quarter. Royce & Associates LP now owns 532,710 shares of the company’s stock worth $7,351,000 after buying an additional 325,788 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Power Solutions International by 12.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 360,000 shares of the company’s stock worth $6,570,000 after buying an additional 40,000 shares in the last quarter. Gagnon Securities LLC boosted its stake in Power Solutions International by 9.3% in the first quarter. Gagnon Securities LLC now owns 341,955 shares of the company’s stock worth $4,719,000 after buying an additional 28,968 shares in the last quarter. Finally, Royce & Associates LLC boosted its stake in Power Solutions International by 114.0% in the fourth quarter. Royce & Associates LLC now owns 206,922 shares of the company’s stock worth $3,776,000 after buying an additional 110,222 shares in the last quarter.
A number of other equities analysts have also issued reports on PSIX. Zacks Investment Research raised shares of Power Solutions International from a “sell” rating to a “hold” rating in a research report on Tuesday, April 19th. Vetr lowered shares of Power Solutions International from a “strong-buy” rating to a “buy” rating and set a $17.20 target price for the company. in a report on Wednesday, May 25th. Finally, Roth Capital lifted their target price on shares of Power Solutions International from $16.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, June 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $19.48.
Shares of Power Solutions International (NASDAQ:PSIX) opened at 15.43 on Tuesday. The stock has a market cap of $167.86 million and a P/E ratio of 157.45. Power Solutions International has a 1-year low of $7.63 and a 1-year high of $31.97. The company’s 50-day moving average is $17.26 and its 200-day moving average is $14.10.
Power Solutions International, Inc is a producer and distributor of a range of low-emission power systems that run on non-diesel fuels, such as natural gas, propane and gasoline. The Company’s industrial power systems are used by original equipment manufacturers (OEMs) in a range of industries with a diversified set of applications, including stationary electricity generators, oil and gas equipment, forklifts, aerial work platforms, industrial sweepers, arbor equipment, agricultural and turf equipment, aircraft ground support equipment, construction and irrigation equipment, and other industrial equipment.