Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Here’s Why

Power Solutions International Inc (NASDAQ:PSIX) shares gapped up prior to trading on Tuesday . The stock had previously closed at $29.83, but opened at $33.06. Power Solutions International shares last traded at $34.40, with a volume of 369,153 shares traded.

Power Solutions International Price Performance

The company has a 50 day simple moving average of $35.45. The company has a market cap of $670.68 million, a PE ratio of 12.36 and a beta of 1.04.

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

Insider Buying and Selling at Power Solutions International

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 15,181 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $37.05, for a total value of $562,456.05. Following the completion of the sale, the insider now directly owns 2,999,102 shares in the company, valued at approximately $111,116,729.10. This trade represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Power Solutions International

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