Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Here’s Why

Shares of Power Solutions International, Inc. (NASDAQ:PSIX) gapped up prior to trading on Thursday . The stock had previously closed at $52.24, but opened at $56.97. Power Solutions International shares last traded at $55.98, with a volume of 127,624 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Power Solutions International in a research note on Thursday, November 13th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Power Solutions International Stock Up 6.2%

The firm has a 50 day moving average price of $86.61 and a 200-day moving average price of $73.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.26 and a quick ratio of 0.65. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 11.54 and a beta of 1.59.

Power Solutions International (NASDAQ:PSIX) last released its earnings results on Thursday, November 6th. The company reported $1.20 earnings per share (EPS) for the quarter. Power Solutions International had a net margin of 18.56% and a return on equity of 136.57%. The company had revenue of $203.83 million for the quarter.

Insiders Place Their Bets

In other Power Solutions International news, Director Frank P. Simpkins sold 10,000 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $91.64, for a total transaction of $916,400.00. Following the completion of the sale, the director owned 25,000 shares in the company, valued at approximately $2,291,000. The trade was a 28.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Xun Li sold 8,000 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $92.36, for a total value of $738,880.00. Following the completion of the sale, the chief financial officer owned 221 shares of the company’s stock, valued at $20,411.56. This represents a 97.31% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 97,839 shares of company stock valued at $9,117,033. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Power Solutions International

Large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its stake in Power Solutions International by 344.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 325,085 shares of the company’s stock valued at $31,930,000 after buying an additional 251,883 shares in the last quarter. Busey Bank bought a new position in Power Solutions International during the 3rd quarter worth about $21,608,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Power Solutions International in the third quarter valued at about $19,001,000. Portolan Capital Management LLC acquired a new position in shares of Power Solutions International during the third quarter worth about $19,232,000. Finally, Vanguard Group Inc. raised its position in Power Solutions International by 38.9% in the 3rd quarter. Vanguard Group Inc. now owns 502,381 shares of the company’s stock valued at $49,344,000 after buying an additional 140,743 shares during the last quarter. 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.