Power Solutions International (NASDAQ:PSIX) Shares Gap Down – What’s Next?

Power Solutions International Inc (NASDAQ:PSIX)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $49.99, but opened at $48.54. Power Solutions International shares last traded at $49.76, with a volume of 44,373 shares traded.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum reissued a “buy” rating on shares of Power Solutions International in a research report on Tuesday, March 25th.

Power Solutions International Price Performance

The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 21.16 and a beta of 1.26. The stock has a 50-day moving average price of $33.12.

Power Solutions International (NASDAQ:PSIX) last announced its earnings results on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter. Power Solutions International had a return on equity of 293.35% and a net margin of 12.46%. The business had revenue of $135.45 million for the quarter.

Insider Transactions at Power Solutions International

In related news, major shareholder Gary S. Winemaster sold 2,000 shares of Power Solutions International stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $23.27, for a total transaction of $46,540.00. Following the sale, the insider now owns 2,944,281 shares of the company’s stock, valued at approximately $68,513,418.87. This trade represents a 0.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Power Solutions International

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSIX. Vestcor Inc bought a new stake in Power Solutions International during the 1st quarter valued at approximately $29,000. Wells Fargo & Company MN bought a new stake in Power Solutions International during the 4th quarter valued at approximately $33,000. Heck Capital Advisors LLC bought a new stake in Power Solutions International during the 4th quarter valued at approximately $94,000. Acadian Asset Management LLC bought a new stake in Power Solutions International during the 1st quarter valued at approximately $112,000. Finally, Spire Wealth Management raised its stake in Power Solutions International by 84.5% during the 1st quarter. Spire Wealth Management now owns 5,984 shares of the company’s stock valued at $151,000 after purchasing an additional 2,741 shares during the period. Institutional investors 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.