Power Solutions International (NASDAQ:PSIX) Stock Price Down 6.6% – Here’s What Happened

Power Solutions International Inc (NASDAQ:PSIX)’s stock price was down 6.6% on Wednesday . The company traded as low as $29.45 and last traded at $29.85. Approximately 170,251 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 331,603 shares. The stock had previously closed at $31.96.

Power Solutions International Price Performance

The company has a 50 day simple moving average of $34.94. The company has a market cap of $602.58 million, a PE ratio of 11.10 and a beta of 1.04.

Power Solutions International (NASDAQ:PSIX) last posted its quarterly earnings results on Monday, March 24th. The company reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $144.30 million during the quarter. Power Solutions International had a net margin of 12.46% and a return on equity of 293.35%.

Insider Buying and Selling

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 17,983 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $36.84, for a total value of $662,493.72. Following the transaction, the insider now directly owns 2,981,119 shares of the company’s stock, valued at $109,824,423.96. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Power Solutions International

Several large investors have recently modified their holdings of the business. Wells Fargo & Company MN acquired a new position in shares of Power Solutions International in the fourth quarter worth $33,000. Heck Capital Advisors LLC purchased a new stake in shares of Power Solutions International in the fourth quarter valued at approximately $94,000. Spire Wealth Management acquired a new stake in shares of Power Solutions International during the 4th quarter valued at approximately $96,000. Astoria Portfolio Advisors LLC. purchased a new position in Power Solutions International during the 4th quarter valued at about $216,000. Finally, Evernest Financial Advisors LLC purchased a new stake in shares of Power Solutions International in the fourth quarter valued at $223,000. Institutional investors and hedge funds own 22.28% of the company’s stock.

About Power Solutions International

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.