Power Solutions International (NASDAQ:PSIX) Shares Down 7.6% – Here’s Why

Power Solutions International Inc (NASDAQ:PSIX) traded down 7.6% during trading on Thursday . The stock traded as low as $28.07 and last traded at $28.74. 29,182 shares were traded during trading, a decline of 91% from the average session volume of 322,970 shares. The stock had previously closed at $31.10.

Power Solutions International Stock Performance

The company’s fifty day moving average price is $36.19. The company has a market cap of $621 million, a price-to-earnings ratio of 11.44 and a beta of 1.03.

Insider Transactions at Power Solutions International

In other news, major shareholder Gary S. Winemaster sold 17,983 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $36.84, for a total value of $662,493.72. Following the completion of the transaction, the insider now directly owns 2,981,119 shares in the company, valued at approximately $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 can be accessed through this link. Insiders have sold 50,625 shares of company stock worth $1,683,476 over the last quarter. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Power Solutions International

Institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN bought a new stake in Power Solutions International during the fourth quarter worth approximately $33,000. Heck Capital Advisors LLC acquired a new position in Power Solutions International in the fourth quarter worth about $94,000. Spire Wealth Management bought a new position in shares of Power Solutions International in the fourth quarter valued at about $96,000. Astoria Portfolio Advisors LLC. acquired a new stake in Power Solutions International in the fourth quarter worth about $216,000. Finally, Evernest Financial Advisors LLC bought a new position in Power Solutions International during the fourth quarter worth about $223,000. 22.28% of the stock is owned by institutional investors and hedge funds.

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.