Power Solutions International (NASDAQ:PSIX) Shares Up 8% – Here’s Why

Power Solutions International Inc (NASDAQ:PSIX)’s stock price was up 8% during mid-day trading on Monday . The company traded as high as $33.91 and last traded at $32.92. Approximately 33,092 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 307,803 shares. The stock had previously closed at $30.49.

Power Solutions International Stock Down 3.1 %

The company’s 50 day simple moving average is $35.63. The stock has a market cap of $737.38 million, a PE ratio of 13.58 and a beta of 1.04.

Insiders Place Their Bets

In related news, major shareholder Gary S. Winemaster sold 17,983 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $36.84, for a total transaction of $662,493.72. Following the sale, the insider now directly owns 2,981,119 shares in the company, valued at approximately $109,824,423.96. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 50,625 shares of company stock worth $1,683,476 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN bought a new position in shares of Power Solutions International in the fourth quarter valued at approximately $33,000. Heck Capital Advisors LLC bought a new position in Power Solutions International in the 4th quarter valued at $94,000. Spire Wealth Management bought a new position in Power Solutions International in the 4th quarter valued at $96,000. Astoria Portfolio Advisors LLC. purchased a new position in shares of Power Solutions International during the 4th quarter valued at $216,000. Finally, Evernest Financial Advisors LLC purchased a new position in Power Solutions International during the fourth quarter worth about $223,000. Hedge funds and other 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.