Power Solutions International Inc (NASDAQ:PSIX - Get Free Report) shares rose 14.5% during mid-day trading on Monday . The company traded as high as $35.05 and last traded at $34.75. Approximately 557,509 shares changed hands during trading, an increase of 68% from the average daily volume of 331,170 shares. The stock had previously closed at $30.36.
Analysts Set New Price Targets
Separately, Craig Hallum reissued a "buy" rating on shares of Power Solutions International in a research note on Tuesday, March 25th.
Check Out Our Latest Report on Power Solutions International
Power Solutions International Stock Up 13.7%
The business's 50-day moving average price is $26.39. The stock has a market capitalization of $794.01 million, a P/E ratio of 14.62 and a beta of 1.09.
Power Solutions International (NASDAQ:PSIX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.83 earnings per share (EPS) for the quarter. The firm 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%.
Insiders Place Their Bets
In other news, major shareholder Gary S. Winemaster sold 2,000 shares of the stock in a transaction 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 transaction, the insider now 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 document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by insiders.
Hedge Funds Weigh In On Power Solutions International
Several hedge funds have recently bought and sold shares of the business. Vestcor Inc bought a new stake in shares of Power Solutions International during the 1st quarter worth about $29,000. Wells Fargo & Company MN acquired a new stake in Power Solutions International in the 4th quarter worth approximately $33,000. Heck Capital Advisors LLC bought a new stake in Power Solutions International during the fourth quarter worth approximately $94,000. Spire Wealth Management bought a new position in shares of Power Solutions International in the fourth quarter valued at approximately $96,000. Finally, Astoria Portfolio Advisors LLC. acquired a new stake in shares of Power Solutions International in the fourth quarter worth $216,000. 22.28% of the stock is owned by institutional investors and hedge funds.
About Power Solutions International
(
Get Free Report)
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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