New piston/ring and cylinder and never run, it should have more than120psi. Unless the ring gap is too big. That would need to be checked. Could be letting compression blow by. I'd drop a little oil down the plug hole and see if it would come up.
Steve Sidwell
The 4218 you all talking about with 120psi is a new p+c?
Was it a way off big squish aftermarket one bought on the cheap?