Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Time to Buy?

Shares of Power Solutions International Inc (NASDAQ:PSIX) gapped up before the market opened on Monday . The stock had previously closed at $41.48, but opened at $43.44. Power Solutions International shares last traded at $43.38, with a volume of 45,834 shares traded.

Power Solutions International Stock Performance

The firm has a market cap of $953.35 million, a price-to-earnings ratio of 17.56 and a beta of 1.03.

Insider Activity

In related news, major shareholder Gary S. Winemaster sold 15,181 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $37.05, for a total transaction of $562,456.05. Following the completion of the sale, the insider now owns 2,999,102 shares in the company, valued at approximately $111,116,729.10. This represents a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 50,625 shares of company stock worth $1,683,476 over the last three months. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Power Solutions International

Several institutional investors have recently modified their holdings of the business. Heck Capital Advisors LLC bought a new position in shares of Power Solutions International during the 4th quarter worth $94,000. Spire Wealth Management purchased a new stake in Power Solutions International during the fourth quarter valued at about $96,000. Astoria Portfolio Advisors LLC. bought a new position in Power Solutions International during the fourth quarter worth about $216,000. Evernest Financial Advisors LLC bought a new stake in shares of Power Solutions International in the fourth quarter valued at approximately $223,000. Finally, Thompson Davis & CO. Inc. purchased a new position in Power Solutions International in the 4th quarter valued at approximately $251,000. 22.28% of the stock is owned by institutional investors.

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.