Power Solutions International (NASDAQ:PSIX) Trading Down 7.6% – What’s Next?

Power Solutions International Inc (NASDAQ:PSIX)’s stock price was down 7.6% during trading on Thursday . The company traded as low as $28.07 and last traded at $28.74. Approximately 29,182 shares were traded during trading, a decline of 91% from the average daily volume of 322,970 shares. The stock had previously closed at $31.10.

Power Solutions International Stock Down 13.2 %

The stock has a market capitalization of $621 million, a PE ratio of 11.44 and a beta of 1.03. The stock’s fifty day moving average price is $36.19.

Insider Activity

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 17,983 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $36.84, for a total transaction of $662,493.72. Following the completion of the sale, the insider now directly owns 2,981,119 shares of the company’s stock, valued at approximately $109,824,423.96. The trade was a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 50,625 shares of company stock valued at $1,683,476. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Power Solutions International

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