Power Solutions International (OTCMKTS:PSIX) Share Price Passes Above 50-Day Moving Average – What's Next?

On Thursday, November 1st, 2024, the stock price of Power Solutions International, Inc. (OTCMKTS:PSIX) surged above its 50-day moving average. This important technical indicator, which sits at $20.41, was surpassed as the stock reached a high of $24.29 during trading. The shares were last seen at $22.58, with a total trading volume of 97,871 shares on that day.

Recent Analyst Recommendations

In a recent research note, Craig Hallum upgraded their price target for Power Solutions International from $10.00 to $22.00, also assigning the stock a “buy” rating on August 14th. This upgrade indicates optimism surrounding the company's future performance.

Current Stock Performance

Despite the recent climb, Power Solutions International's share price has experienced a weekly decline of 6.6%. Currently, the company has a market cap of approximately $519.25 million, a price-to-earnings (P/E) ratio of 17.50, and a beta value of 0.92, suggesting that it is relatively less volatile compared to the broader market. The 50-day moving average stands at $20.41, while the 200-day moving average is reported at $11.92.

Earnings Overview

Power Solutions International recently disclosed its quarterly earnings on August 12th, reporting earnings per share (EPS) of $0.72. This figure exceeded the consensus expectation of $0.36 by a significant margin, demonstrating strong operational performance. Additionally, the company achieved revenue of $110.59 million for the same period, with a net margin of 10.51% and an impressive return on equity of 1,360.71%.

About Power Solutions International

Power Solutions International, Inc. specializes in the design, engineering, manufacturing, marketing, and sale of engines and power systems both in the U.S. and internationally, including in North America, the Pacific Rim, and Europe. The company provides a variety of products, including engine blocks and fully integrated power systems which encompass various components such as fuel system parts, cooling systems, electronic systems, and more.

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