Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Still a Buy?

Shares of Power Solutions International Inc (NASDAQ:PSIX) gapped up prior to trading on Monday . The stock had previously closed at $33.37, but opened at $35.77. Power Solutions International shares last traded at $33.66, with a volume of 64,547 shares changing hands.

Power Solutions International Stock Down 3.9 %

The stock’s 50 day moving average price is $36.58. The stock has a market cap of $737.38 million, a price-to-earnings ratio of 13.58 and a beta of 1.03.

Insider Transactions at Power Solutions International

In related news, major shareholder Gary S. Winemaster sold 17,983 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $36.84, for a total value of $662,493.72. Following the completion of the transaction, the insider now owns 2,981,119 shares of the company’s stock, valued at $109,824,423.96. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 50,625 shares of company stock worth $1,683,476. 0.60% of the stock is owned by insiders.

Institutional Trading of Power Solutions International

A number of institutional investors and hedge funds have recently made changes to their positions in PSIX. Wells Fargo & Company MN acquired a new position in shares of Power Solutions International during the 4th quarter worth $33,000. Heck Capital Advisors LLC bought a new stake in shares of Power Solutions International during the fourth quarter worth $94,000. Spire Wealth Management acquired a new position in shares of Power Solutions International during the fourth quarter worth $96,000. Astoria Portfolio Advisors LLC. bought a new stake in Power Solutions International during the 4th quarter worth $216,000. Finally, Evernest Financial Advisors LLC acquired a new position in Power Solutions International in the 4th quarter worth about $223,000. Institutional investors own 22.28% of the company’s stock.

Power Solutions International Company Profile

Power Solutions International, Inc engages in the design, manufacture, and trade of power systems and electrical power generation equipment. The firm provides integrated turnkey solutions to global original equipment manufacturers and end-user customers within the energy, industrial, and transportation end markets.