Power Solutions International (NASDAQ:PSIX) Stock Price Down 5.2% - Here's What Happened

Key Points

• Shares of Power Solutions International (NASDAQ:PSIX) fell 5.2%, trading as low as $87.34, on a significant decline in trading volume.
• Wall Street analysts maintain a positive outlook, with a consensus rating of "Buy" and a target price averaging $37.00.
• In insider trading, CFO Xun Li and Director Frank P. Simpkins sold significant portions of their shares, indicating a 97.31% and 28.57% decrease in their ownership, respectively.

Shares of Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report) dropped 5.2% on Monday . The company traded as low as $87.34 and last traded at $87.52. Approximately 230,646 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 483,173 shares. The stock had previously closed at $92.28.

Wall Street Analysts Forecast Growth

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

Power Solutions International Stock Down 8.3%

The firm has a 50-day moving average price of $92.54 and a 200 day moving average price of $61.40. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 17.58 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.26 and a quick ratio of 0.65.

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

Insiders Place Their Bets

In related news, CFO Xun Li sold 8,000 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $92.36, for a total transaction of $738,880.00. Following the sale, the chief financial officer directly owned 221 shares in the company, valued at approximately $20,411.56. The trade was a 97.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank P. Simpkins sold 10,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $91.64, for a total value of $916,400.00. Following the transaction, the director owned 25,000 shares in the company, valued at $2,291,000. This trade represents a 28.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 211,014 shares of company stock valued at $18,768,831. Company insiders own 0.96% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Power Solutions International by 102.2% in the 2nd quarter. Geode Capital Management LLC now owns 154,383 shares of the company's stock worth $9,987,000 after purchasing an additional 78,034 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Power Solutions International during the second quarter valued at $4,735,000. Lazard Asset Management LLC purchased a new position in shares of Power Solutions International during the second quarter worth approximately $2,968,000. Raymond James Financial Inc. grew its position in shares of Power Solutions International by 174.6% during the 2nd quarter. Raymond James Financial Inc. now owns 67,914 shares of the company's stock worth $4,393,000 after buying an additional 43,185 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new stake in shares of Power Solutions International in the 1st quarter worth approximately $1,086,000. 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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