Power Solutions International (NASDAQ:PSIX) Shares Up 9.2% - Here's Why

Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report) shares were up 9.2% during mid-day trading on Thursday . The company traded as high as $67.73 and last traded at $67.69. Approximately 361,543 shares traded hands during trading, an increase of 7% from the average daily volume of 336,452 shares. The stock had previously closed at $61.98.

Analyst Ratings Changes

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

Power Solutions International Trading Up 9.7%

The company has a market cap of $1.56 billion, a price-to-earnings ratio of 19.27 and a beta of 1.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.67 and a current ratio of 1.16. The stock has a 50 day simple moving average of $38.93.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last issued its 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 141.76% and a net margin of 15.74%. The firm had revenue of $135.45 million for the quarter.

Insiders Place Their Bets

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 2,000 shares of Power Solutions International stock in a transaction on Friday, April 11th. The shares were sold at an average price of $23.27, for a total value of $46,540.00. Following the completion of the transaction, the insider now directly owns 2,944,281 shares of the company's stock, valued at $68,513,418.87. This trade represents a 0.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.96% of the company's stock.

Institutional Trading of Power Solutions International

Hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN bought a new position in Power Solutions International during the fourth quarter valued at $33,000. Vestcor Inc purchased a new position in shares of Power Solutions International during the 1st quarter worth about $29,000. Heck Capital Advisors LLC bought a new position in Power Solutions International during the 4th quarter valued at about $94,000. Acadian Asset Management LLC bought a new position in Power Solutions International during the 1st quarter valued at about $112,000. Finally, Spire Wealth Management raised its position in Power Solutions International by 84.5% in the 1st quarter. Spire Wealth Management now owns 5,984 shares of the company's stock worth $151,000 after purchasing an additional 2,741 shares during the period. 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.

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