Power Solutions International (NASDAQ:PSIX) Shares Gap Up - Still a Buy?

Power Solutions International Inc (NASDAQ:PSIX - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $47.90, but opened at $49.26. Power Solutions International shares last traded at $48.80, with a volume of 62,858 shares.

Wall Street Analysts Forecast Growth

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

Power Solutions International Stock Down 3.1%

The stock has a market capitalization of $1.15 billion, a P/E ratio of 21.16 and a beta of 1.26. The firm has a 50 day moving average price of $33.12.

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

Insider Transactions at Power Solutions International

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Wells Fargo & Company MN purchased a new position in shares of Power Solutions International during the 4th quarter worth about $33,000. Vestcor Inc purchased a new position in Power Solutions International in the first quarter valued at approximately $29,000. Spire Wealth Management raised its holdings in Power Solutions International by 84.5% in the first quarter. Spire Wealth Management now owns 5,984 shares of the company's stock valued at $151,000 after buying an additional 2,741 shares during the period. Heck Capital Advisors LLC purchased a new position in Power Solutions International in the fourth quarter valued at approximately $94,000. Finally, Acadian Asset Management LLC purchased a new position in Power Solutions International in the first quarter valued at approximately $112,000. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

Power Solutions International Company Profile

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.