Sierra Summit Advisors LLC Invests $958,000 in Power Solutions International, Inc. $PSIX

Sierra Summit Advisors LLC bought a new stake in Power Solutions International, Inc. (NASDAQ:PSIX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,752 shares of the company’s stock, valued at approximately $958,000.

Several other large investors have also recently added to or reduced their stakes in PSIX. Vanguard Group Inc. grew its holdings in Power Solutions International by 38.9% in the 3rd quarter. Vanguard Group Inc. now owns 502,381 shares of the company’s stock valued at $49,344,000 after buying an additional 140,743 shares during the period. Busey Bank purchased a new stake in Power Solutions International in the third quarter valued at approximately $21,608,000. Allspring Global Investments Holdings LLC purchased a new stake in Power Solutions International in the third quarter valued at approximately $19,001,000. Geode Capital Management LLC boosted its holdings in shares of Power Solutions International by 102.2% in the 2nd quarter. Geode Capital Management LLC now owns 154,383 shares of the company’s stock valued at $9,987,000 after purchasing an additional 78,034 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Power Solutions International during the 2nd quarter valued at $4,735,000. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

Power Solutions International Price Performance

Shares of NASDAQ PSIX opened at $83.50 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 1.19. Power Solutions International, Inc. has a 1-year low of $18.10 and a 1-year high of $121.78. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 15.87 and a beta of 2.11. The business has a 50-day moving average of $76.26 and a 200-day moving average of $78.58.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PSIX shares. Jefferies Financial Group started coverage on Power Solutions International in a report on Monday, December 1st. They issued a “buy” rating and a $110.51 target price on the stock. Wall Street Zen downgraded shares of Power Solutions International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Power Solutions International in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.51.

About Power Solutions International

Power Solutions International, Inc is a global designer and manufacturer of integrated powertrain solutions for commercial vehicle, industrial and military applications. Headquartered in Wood Dale, Illinois, the company develops and assembles advanced diesel engine and transmission packages under the Atlas® brand, combining proprietary engine technology with high-efficiency transmissions to deliver power-dense systems. These solutions are tailored for medium- and heavy-duty trucks, buses, construction equipment, generator sets and specialty vehicles.

In addition to complete powertrain systems, the company offers a broad range of component products including diesel engines, transmissions and aftertreatment modules.