Power Solutions International (NASDAQ:PSIX) Shares Down 9.9% – Here’s Why

Power Solutions International Inc (NASDAQ:PSIX)’s share price was down 9.9% on Tuesday . The company traded as low as $29.00 and last traded at $29.64. Approximately 182,996 shares were traded during trading, a decline of 47% from the average daily volume of 342,708 shares. The stock had previously closed at $32.90.

Power Solutions International Trading Down 8.6 %

The company has a market capitalization of $691.38 million, a P/E ratio of 12.74 and a beta of 1.03.

Insider Buying and Selling

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 17,983 shares of the business’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 transaction, the insider now directly owns 2,981,119 shares of the company’s stock, valued at approximately $109,824,423.96. The trade was a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 50,625 shares of company stock worth $1,683,476 in the last quarter. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Power Solutions International

Several hedge funds and other institutional investors have recently bought and sold shares of PSIX. Wells Fargo & Company MN purchased a new stake in shares of Power Solutions International in the 4th quarter worth about $33,000. Heck Capital Advisors LLC purchased a new stake in shares of Power Solutions International in the fourth quarter valued at about $94,000. Spire Wealth Management acquired a new stake in shares of Power Solutions International during the fourth quarter valued at $96,000. Astoria Portfolio Advisors LLC. purchased a new position in shares of Power Solutions International during the fourth quarter valued at approximately $216,000. Finally, Evernest Financial Advisors LLC purchased 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.

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.