PSIX - Can Power Solutions International Maintain The Crazy Momentum?
2024-06-30 01:49:06 ET
Summary
- Power Solutions' shares have tripled since May after the company reported upbeat Q1 2024 results.
- The company has issued guidance for positive revenue growth for FY 2024 thanks to strong momentum by its data center product.
- Power Solutions has dramatically cut down its debt and improved shareholder returns.
- PSIX looks like a Buy with little downside.
Two weeks ago, I published an article on grid-scale gravity energy storage systems developer Energy Vault Holdings, Inc. (NYSE: NRGV ) wherein I noted the stock’s negative momentum put it at high risk of being kicked off the NYSE. Since then, NRGV has sunk to sub-$1 territory making it a risky proposition despite a bright 2-year outlook as I pointed out in the article. Incidentally, I noticed that Energy Vault’s peer that was delisted from Nasdaq years ago has lately been moving in the opposite direction. To wit, Power Solutions International (PSIX) has more than tripled since early May, its 14-Day RSI reading of 87.6 telling the whole story....
Can Power Solutions International Maintain The Crazy Momentum?