Power Solutions International (NASDAQ:PSIX) Trading Down 5.9% – Here’s Why

Shares of Power Solutions International Inc (NASDAQ:PSIX) dropped 5.9% during trading on Wednesday . The stock traded as low as $38.50 and last traded at $39.00. Approximately 272,460 shares traded hands during trading, a decline of 26% from the average daily volume of 369,432 shares. The stock had previously closed at $41.45.

Power Solutions International Trading Down 6.0 %

The stock has a market cap of $896.31 million, a P/E ratio of 16.51 and a beta of 1.03.

Insider Buying and Selling

In related news, major shareholder Gary S. Winemaster sold 15,181 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $37.05, for a total value of $562,456.05. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 50,625 shares of company stock worth $1,683,476. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Power Solutions International

Institutional investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC acquired a new position in shares of Power Solutions International during the 4th quarter worth $94,000. Spire Wealth Management acquired a new position in Power Solutions International during the fourth quarter worth $96,000. Astoria Portfolio Advisors LLC. acquired a new position in Power Solutions International during the fourth quarter worth $216,000. Evernest Financial Advisors LLC bought a new position in Power Solutions International during the fourth quarter valued at about $223,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of Power Solutions International in the fourth quarter worth about $251,000. 22.28% of the stock is currently owned by institutional investors and hedge funds.

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.