Power Solutions International (NASDAQ:PSIX) Trading 10% Higher – Still a Buy?

Power Solutions International Inc (NASDAQ:PSIX)’s share price shot up 10% during mid-day trading on Friday . The company traded as high as $23.32 and last traded at $23.25. 196,850 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 338,112 shares. The stock had previously closed at $21.14.

Wall Street Analysts Forecast Growth

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

Power Solutions International Price Performance

The firm has a market capitalization of $527.57 million, a P/E ratio of 9.72 and a beta of 0.80. The stock has a 50-day simple moving average of $31.18.

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

Insider Transactions at Power Solutions International

In related 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 transaction of $662,493.72. Following the transaction, the insider now owns 2,981,119 shares in the company, valued at $109,824,423.96. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Power Solutions International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gagnon Securities LLC bought a new stake in shares of Power Solutions International in the fourth quarter valued at approximately $25,292,000. Gagnon Advisors LLC acquired a new position in Power Solutions International during the 4th quarter worth $13,987,000. Portolan Capital Management LLC acquired a new position in Power Solutions International in the fourth quarter valued at approximately $10,153,000. S Squared Technology LLC acquired a new stake in Power Solutions International during the 4th quarter worth $8,718,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Power Solutions International during the fourth quarter worth about $2,168,000. 22.28% of the stock is currently owned by hedge funds and other 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.