Power Solutions International (NASDAQ:PSIX) Trading 6.9% Higher – What’s Next?

Power Solutions International Inc (NASDAQ:PSIX) shares shot up 6.9% during mid-day trading on Thursday . The company traded as high as $25.90 and last traded at $25.70. 94,462 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 332,155 shares. The stock had previously closed at $24.05.

Analyst Upgrades and Downgrades

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

Power Solutions International Trading Up 0.9 %

The company has a market cap of $622.14 million, a price-to-earnings ratio of 11.46 and a beta of 0.80. The business’s fifty day moving average price is $27.58.

Power Solutions International (NASDAQ:PSIX) last issued its quarterly earnings results on Monday, March 24th. The company reported $1.03 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 $144.30 million for the quarter.

Insider Buying and Selling

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 2,000 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $23.27, for a total value of $46,540.00. Following the completion of the sale, the insider now directly owns 2,944,281 shares in the company, valued at approximately $68,513,418.87. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Power Solutions International

Institutional investors and hedge funds have recently made changes to their positions in the business. Gagnon Advisors LLC bought a new stake in Power Solutions International during the 4th quarter valued at approximately $13,987,000. World Equity Group Inc. purchased a new position in shares of Power Solutions International during the 4th quarter valued at $529,000. Gagnon Securities LLC bought a new stake in Power Solutions International during the 4th quarter valued at approximately $25,292,000. Evernest Financial Advisors LLC bought a new position in Power Solutions International during the fourth quarter valued at $223,000. Finally, Thompson Davis & CO. Inc. purchased a new position in shares of Power Solutions International during the 4th quarter worth about $251,000. Hedge funds and other 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.