Power Solutions International (NASDAQ:PSIX) Shares Gap Up – Still a Buy?

Power Solutions International Inc (NASDAQ:PSIX) shares gapped up before the market opened on Tuesday . The stock had previously closed at $29.83, but opened at $33.06. Power Solutions International shares last traded at $34.40, with a volume of 369,153 shares trading hands.

Power Solutions International Stock Performance

The firm’s 50 day moving average is $35.45. The firm has a market capitalization of $670.68 million, a PE ratio of 12.36 and a beta of 1.04.

Power Solutions International (NASDAQ:PSIX) last announced its quarterly earnings data on Monday, March 24th. The company reported $1.03 EPS for the quarter. The company had revenue of $144.30 million for the quarter. Power Solutions International had a return on equity of 293.35% and a net margin of 12.46%.

Insider Activity at Power Solutions International

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 15,181 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $37.05, for a total transaction of $562,456.05. Following the transaction, the insider now directly owns 2,999,102 shares in the company, valued at $111,116,729.10. This trade represents a 0.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Power Solutions International

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

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.