Power Solutions International (NASDAQ:PSIX) Trading Up 11.3% – Still a Buy?

Shares of Power Solutions International Inc (NASDAQ:PSIX) were up 11.3% during mid-day trading on Wednesday . The stock traded as high as $33.87 and last traded at $33.87. Approximately 97,961 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 340,003 shares. The stock had previously closed at $30.43.

Power Solutions International Trading Up 12.8 %

The company has a 50-day moving average price of $36.80. The company has a market capitalization of $789.82 million, a P/E ratio of 14.55 and a beta of 1.03.

Insider Transactions at Power Solutions International

In other news, major shareholder Gary S. Winemaster sold 15,181 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $37.05, for a total value of $562,456.05. Following the sale, the insider now owns 2,999,102 shares in the company, valued at approximately $111,116,729.10. The trade was a 0.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 50,625 shares of company stock worth $1,683,476. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Power Solutions International

A number of hedge funds have recently added to or reduced their stakes in PSIX. Wells Fargo & Company MN acquired a new stake in Power Solutions International in the fourth quarter worth $33,000. Heck Capital Advisors LLC bought a new position in Power Solutions International during the fourth quarter worth about $94,000. Spire Wealth Management bought a new position in Power Solutions International in the 4th quarter valued at about $96,000. Astoria Portfolio Advisors LLC. acquired a new position in shares of Power Solutions International in the fourth quarter valued at about $216,000. Finally, Evernest Financial Advisors LLC acquired a new position in Power Solutions International in the 4th quarter valued at $223,000. 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.