Power Solutions International (NASDAQ:PSIX) Sets New 12-Month High - Time to Buy?

Power Solutions International Inc (NASDAQ:PSIX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $45.93 and last traded at $45.85, with a volume of 194273 shares changing hands. The stock had previously closed at $42.46.

Analysts Set New Price Targets

Separately, Craig Hallum reiterated a "buy" rating on shares of Power Solutions International in a research note on Tuesday, March 25th.

Power Solutions International Stock Up 0.9%

The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 20.30 and a beta of 1.26. The stock's 50 day moving average price is $30.71.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter. Power Solutions International had a return on equity of 293.35% and a net margin of 12.46%. The business had revenue of $135.45 million during the quarter.

Insider Buying and Selling at Power Solutions International

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $23.27, for a total transaction of $46,540.00. Following the completion of the sale, the insider now directly owns 2,944,281 shares in the company, valued at $68,513,418.87. This trade represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Power Solutions International

Several hedge funds have recently bought and sold shares of PSIX. Portolan Capital Management LLC acquired a new stake in shares of Power Solutions International during the fourth quarter worth $10,153,000. S Squared Technology LLC acquired a new stake in shares of Power Solutions International during the fourth quarter worth $8,718,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Power Solutions International during the fourth quarter worth $2,168,000. Marshall Wace LLP acquired a new stake in shares of Power Solutions International during the fourth quarter worth $2,130,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Power Solutions International during the first quarter worth $1,086,000. 22.28% of the stock is currently owned by institutional investors and hedge funds.

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.