Power Solutions International (NASDAQ:PSIX) Shares Gap Down - Should You Sell?

Key Points

• Power Solutions International's stock price gapped down from $94.96 to $89.64 before settling at $91.03, with a trading volume of 167,839 shares.
• Analysts have set a consensus price target of $37.00 for the stock, with Weiss Ratings reaffirming a "buy (b)" rating as two analysts recommend purchasing shares.
• Recent insider activity includes CEO Constantine Xykis selling 26,005 shares, resulting in a significant decrease in his ownership stake by 76.80%.

Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $94.96, but opened at $89.64. Power Solutions International shares last traded at $91.03, with a volume of 167,839 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Power Solutions International in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Power Solutions International presently has a consensus rating of "Buy" and a consensus price target of $37.00.

Power Solutions International Trading Down 0.9%

The company has a market cap of $2.17 billion, a P/E ratio of 19.56 and a beta of 1.53. The company has a current ratio of 1.26, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $92.41 and a 200-day moving average price of $63.86.

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

Insider Activity at Power Solutions International

In other news, CEO Constantine Xykis sold 26,005 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $95.85, for a total transaction of $2,492,579.25. Following the sale, the chief executive officer owned 7,854 shares in the company, valued at $752,805.90. This represents a 76.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Hong He sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $90.03, for a total value of $225,075.00. Following the sale, the director owned 26,250 shares in the company, valued at approximately $2,363,287.50. This represents a 8.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,014 shares of company stock worth $18,768,831. Insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On Power Solutions International

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. bought a new stake in Power Solutions International in the 1st quarter valued at $782,000. Thoroughbred Financial Services LLC increased its position in shares of Power Solutions International by 108.8% in the first quarter. Thoroughbred Financial Services LLC now owns 21,783 shares of the company's stock worth $550,000 after purchasing an additional 11,350 shares during the period. Cetera Investment Advisers bought a new position in shares of Power Solutions International in the first quarter worth $516,000. Perigon Wealth Management LLC acquired a new stake in Power Solutions International in the second quarter valued at about $322,000. Finally, Bay Rivers Group acquired a new stake in Power Solutions International in the second quarter valued at about $233,000. 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.

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