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

Shares of Power Solutions International Inc (NASDAQ:PSIX) gapped up before the market opened on Monday . The stock had previously closed at $33.37, but opened at $35.77. Power Solutions International shares last traded at $33.66, with a volume of 64,547 shares traded.

Power Solutions International Trading Down 3.9 %

The firm’s 50 day simple moving average is $36.58. The company has a market cap of $737.38 million, a P/E ratio of 13.58 and a beta of 1.03.

Insider Transactions at Power Solutions International

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 17,461 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $26.26, for a total transaction of $458,525.86. Following the transaction, the insider now directly owns 3,053,551 shares in the company, valued at approximately $80,186,249.26. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 50,625 shares of company stock valued at $1,683,476 over the last ninety days. 0.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Power Solutions International

Hedge funds have recently made changes to their positions in the business. Gagnon Advisors LLC bought a new stake in Power Solutions International in the 4th quarter valued at about $13,987,000. Gagnon Securities LLC purchased a new position in Power Solutions International in the 4th quarter valued at approximately $25,292,000. World Equity Group Inc. bought a new stake in Power Solutions International during the 4th quarter valued at $529,000. Evernest Financial Advisors LLC purchased a new stake in shares of Power Solutions International during the fourth quarter worth $223,000. Finally, Thompson Davis & CO. Inc. bought a new position in shares of Power Solutions International in the fourth quarter worth $251,000. 22.28% of the stock is currently owned by 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.