Power Solutions International (NASDAQ:PSIX) Shares Gap Down – Here’s What Happened

Power Solutions International Inc (NASDAQ:PSIX) shares gapped down before the market opened on Monday . The stock had previously closed at $27.45, but opened at $26.05. Power Solutions International shares last traded at $25.57, with a volume of 55,402 shares.

Power Solutions International Trading Up 6.9 %

The firm has a market cap of $666.54 million, a PE ratio of 12.28 and a beta of 1.04. The stock’s fifty day moving average is $35.65.

Insider Activity

In other news, major shareholder Gary S. Winemaster sold 17,461 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $26.26, for a total value of $458,525.86. Following the completion of the sale, the insider now owns 3,053,551 shares of the company’s stock, valued at $80,186,249.26. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 50,625 shares of company stock valued at $1,683,476. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Power Solutions International

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

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.