Gagnon Securities LLC Has $22.10 Million Stake in Power Solutions International, Inc. $PSIX

Key Points

• Gagnon Securities LLC reduced its holdings in Power Solutions International, Inc. by 35%, bringing its stake to approximately $22.1 million, which constitutes 4.5% of their investment portfolio.
• The company's stock has shown strong performance with a market cap of $1.94 billion and a 52-week price range from $15.30 to $121.78.
• Power Solutions International has a consensus "Buy" rating from analysts with an average target price set at $37.00.

Gagnon Securities LLC cut its holdings in Power Solutions International, Inc. (NASDAQ:PSIX - Free Report) by 35.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 341,611 shares of the company's stock after selling 183,680 shares during the period. Power Solutions International accounts for 4.5% of Gagnon Securities LLC's investment portfolio, making the stock its 6th biggest position. Gagnon Securities LLC owned approximately 1.48% of Power Solutions International worth $22,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wolff Wiese Magana LLC bought a new position in Power Solutions International in the 2nd quarter valued at $26,000. Farther Finance Advisors LLC boosted its holdings in Power Solutions International by 88.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,651 shares of the company's stock valued at $107,000 after purchasing an additional 773 shares during the period. Vestcor Inc bought a new position in Power Solutions International in the 1st quarter valued at $29,000. Spire Wealth Management boosted its holdings in Power Solutions International by 84.5% in the 1st 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 during the period. Finally, Kathmere Capital Management LLC bought a new position in Power Solutions International in the 2nd quarter valued at $226,000. 22.28% of the stock is owned by institutional investors.

Power Solutions International Stock Performance

Power Solutions International stock opened at $84.36 on Wednesday. The firm's fifty day moving average price is $92.38 and its 200-day moving average price is $61.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.65 and a current ratio of 1.26. The stock has a market cap of $1.94 billion, a P/E ratio of 17.54 and a beta of 1.53. Power Solutions International, Inc. has a fifty-two week low of $15.30 and a fifty-two week high of $121.78.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $2.23 earnings per share for the quarter. The firm had revenue of $191.91 million for the quarter. Power Solutions International had a net margin of 18.56% and a return on equity of 136.57%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Power Solutions International in a report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $37.00.

Insider Activity

In other Power Solutions International news, CEO Constantine Xykis sold 26,005 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $95.85, for a total value of $2,492,579.25. Following the completion of the sale, the chief executive officer directly owned 7,854 shares of the company's stock, valued at $752,805.90. The trade was a 76.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank P. Simpkins sold 10,000 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $91.64, for a total transaction of $916,400.00. Following the completion of the sale, the director directly owned 25,000 shares of the company's stock, valued at $2,291,000. This represents a 28.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 211,014 shares of company stock worth $18,768,831. Corporate insiders own 0.96% 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.

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