Power Solutions International (NASDAQ:PSIX) Shares Down 6.6% – Here’s What Happened

Power Solutions International Inc (NASDAQ:PSIX) shares traded down 6.6% during trading on Wednesday . The stock traded as low as $29.45 and last traded at $29.85. 170,251 shares changed hands during trading, a decline of 49% from the average session volume of 331,603 shares. The stock had previously closed at $31.96.

Power Solutions International Trading Down 10.5 %

The firm has a fifty day simple moving average of $34.94. The firm has a market capitalization of $602.58 million, a price-to-earnings ratio of 11.10 and a beta of 1.04.

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

Insider Activity

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 17,983 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $109,824,423.96. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Power Solutions International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Heck Capital Advisors LLC purchased a new stake in shares of Power Solutions International in the fourth quarter worth $94,000. Citadel Advisors LLC bought a new stake in Power Solutions International during the 4th quarter valued at approximately $366,000. Manatuck Hill Partners LLC bought a new stake in Power Solutions International during the 4th quarter valued at approximately $620,000. Schonfeld Strategic Advisors LLC purchased a new position in Power Solutions International during the 4th quarter valued at approximately $455,000. Finally, S Squared Technology LLC purchased a new position in shares of Power Solutions International in the fourth quarter valued at $8,718,000. 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.