Power Solutions International, Inc. (NASDAQ:PSIX - Get Free Report)'s share price shot up 5.1% during trading on Wednesday . The company traded as high as $68.45 and last traded at $67.00. 145,729 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 363,437 shares. The stock had previously closed at $63.74.
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.
Check Out Our Latest Analysis on Power Solutions International
Power Solutions International Trading Down 1.9%
The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $48.79. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 19.37 and a beta of 1.39.
Power Solutions International (NASDAQ:PSIX - Get Free Report) last posted 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.
Insider Activity
In other news, major shareholder Gary S. Winemaster sold 2,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $23.27, for a total transaction of $46,540.00. Following the transaction, the insider directly owned 2,944,281 shares of the company's stock, valued at approximately $68,513,418.87. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.96% of the company's stock.
Hedge Funds Weigh In On Power Solutions International
Several hedge funds have recently made changes to their positions in PSIX. Vestcor Inc purchased a new position in shares of Power Solutions International during the first quarter valued at approximately $29,000. Wells Fargo & Company MN purchased a new stake in Power Solutions International in the fourth quarter worth $33,000. Heck Capital Advisors LLC purchased a new stake in Power Solutions International in the fourth quarter worth $94,000. Acadian Asset Management LLC purchased a new stake in Power Solutions International in the first quarter worth $112,000. Finally, Spire Wealth Management grew its stake in Power Solutions International by 84.5% in the first 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 owned by hedge funds and other institutional investors.
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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