Power Solutions International (NASDAQ:PSIX) Trading 11.3% Higher – Time to Buy?

Power Solutions International Inc (NASDAQ:PSIX) rose 11.3% during trading on Wednesday . The stock traded as high as $33.87 and last traded at $33.87. Approximately 97,961 shares traded hands during trading, a decline of 71% from the average daily volume of 340,003 shares. The stock had previously closed at $30.43.

Power Solutions International Stock Up 12.8 %

The company has a 50-day moving average price of $36.80. The firm has a market capitalization of $789.82 million, a price-to-earnings ratio of 14.55 and a beta of 1.03.

Insiders Place Their Bets

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 17,983 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $36.84, for a total value of $662,493.72. Following the sale, the insider now owns 2,981,119 shares of the company’s stock, valued at $109,824,423.96. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 50,625 shares of company stock valued at $1,683,476. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PSIX. Astoria Portfolio Advisors LLC. purchased a new stake in shares of Power Solutions International during the 4th quarter worth about $216,000. Evernest Financial Advisors LLC acquired a new stake in Power Solutions International during the fourth quarter worth about $223,000. Heck Capital Advisors LLC bought a new position in shares of Power Solutions International during the fourth quarter worth about $94,000. Gagnon Securities LLC acquired a new position in shares of Power Solutions International during the fourth quarter worth approximately $25,292,000. Finally, Gagnon Advisors LLC acquired a new stake in Power Solutions International in the fourth quarter worth approximately $13,987,000. Hedge funds and other institutional investors own 22.28% of the company’s stock.

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.