Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Still a Buy?

Power Solutions International Inc (NASDAQ:PSIX)’s share price gapped up prior to trading 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 trading hands.

Power Solutions International Stock Performance

The stock has a market cap of $953.35 million, a PE ratio of 17.56 and a beta of 1.03.

Insiders Place Their Bets

In other news, major shareholder Gary S. Winemaster sold 17,461 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $26.26, for a total transaction of $458,525.86. Following the sale, the insider now directly owns 3,053,551 shares of the company’s stock, valued at approximately $80,186,249.26. This represents a 0.57 % 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 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Power Solutions International

Hedge funds and other institutional investors have recently made changes to their positions in the company. World Equity Group Inc. bought a new position in Power Solutions International in the fourth quarter valued at about $529,000. Thompson Davis & CO. Inc. acquired a new position in shares of Power Solutions International in the fourth quarter worth approximately $251,000. Spire Wealth Management bought a new position in Power Solutions International during the 4th quarter worth approximately $96,000. Gagnon Advisors LLC bought a new stake in shares of Power Solutions International in the 4th quarter valued at $13,987,000. Finally, Gagnon Securities LLC acquired a new position in Power Solutions International in the fourth quarter valued at $25,292,000. 22.28% of the stock is currently owned by institutional investors and hedge funds.

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.