Power Solutions International (NASDAQ:PSIX) Trading Down 9.9% – Should You Sell?

Power Solutions International Inc (NASDAQ:PSIX)’s share price traded down 9.9% during trading on Tuesday . The company traded as low as $29.00 and last traded at $29.64. 182,996 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 342,708 shares. The stock had previously closed at $32.90.

Power Solutions International Trading Down 8.6 %

The company has a market capitalization of $691.38 million, a P/E ratio of 12.74 and a beta of 1.03.

Insiders Place Their Bets

In related news, major shareholder Gary S. Winemaster sold 17,983 shares of Power Solutions International stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $36.84, for a total value of $662,493.72. Following the completion of the transaction, the insider now owns 2,981,119 shares in the company, valued at $109,824,423.96. The trade was a 0.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 50,625 shares of company stock worth $1,683,476. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gagnon Advisors LLC purchased a new position in shares of Power Solutions International in the fourth quarter worth about $13,987,000. Gagnon Securities LLC purchased a new position in shares of Power Solutions International during the 4th quarter worth $25,292,000. Evernest Financial Advisors LLC acquired a new position in shares of Power Solutions International during the 4th quarter valued at about $223,000. Astoria Portfolio Advisors LLC. purchased a new stake in shares of Power Solutions International in the fourth quarter valued at about $216,000. Finally, World Equity Group Inc. acquired a new stake in Power Solutions International during the fourth quarter worth about $529,000. 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.