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

Power Solutions International Inc (NASDAQ:PSIX) gapped up before the market opened on Tuesday . The stock had previously closed at $47.90, but opened at $49.26. Power Solutions International shares last traded at $48.80, with a volume of 62,858 shares.

Analyst Ratings Changes

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 0.3%

The business has a fifty day moving average of $31.86. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 21.18 and a beta of 1.26.

Power Solutions International (NASDAQ:PSIX) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter. The business had revenue of $135.45 million for the quarter. Power Solutions International had a return on equity of 293.35% and a net margin of 12.46%.

Insiders Place Their Bets

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 2,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $23.27, for a total value of $46,540.00. Following the transaction, the insider now owns 2,944,281 shares in the company, valued at approximately $68,513,418.87. This represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of 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. Vestcor Inc bought a new position in shares of Power Solutions International in the first quarter valued at approximately $29,000. Heck Capital Advisors LLC bought a new position in shares of Power Solutions International in the fourth quarter valued at approximately $94,000. Acadian Asset Management LLC bought a new position in shares of Power Solutions International in the first quarter valued at approximately $112,000. Finally, Spire Wealth Management lifted its holdings in shares of Power Solutions International by 84.5% in the first quarter. Spire Wealth Management now owns 5,984 shares of the company’s stock valued at $151,000 after purchasing an additional 2,741 shares in the last quarter. 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.