Power Solutions International (NASDAQ:PSIX) Shares Gap Down – Time to Sell?

Power Solutions International Inc (NASDAQ:PSIX) gapped down prior to trading on Tuesday . The stock had previously closed at $31.37, but opened at $29.64. Power Solutions International shares last traded at $28.05, with a volume of 82,589 shares.

Power Solutions International Stock Down 5.2 %

The company has a market cap of $684.02 million, a P/E ratio of 12.60 and a beta of 1.03. The business has a 50-day simple moving average of $36.47.

Insider Buying and Selling

In related news, major shareholder Gary S. Winemaster sold 17,983 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $36.84, for a total value of $662,493.72. Following the completion of the transaction, the insider now directly owns 2,981,119 shares of the company’s stock, valued at approximately $109,824,423.96. This represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 50,625 shares of company stock worth $1,683,476 in the last 90 days. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Power Solutions International

A number of large investors have recently modified their holdings of PSIX. Wells Fargo & Company MN acquired a new position in Power Solutions International during the fourth quarter worth about $33,000. Heck Capital Advisors LLC purchased a new position in Power Solutions International in the 4th quarter worth approximately $94,000. Spire Wealth Management acquired a new position in shares of Power Solutions International during the 4th quarter worth approximately $96,000. Astoria Portfolio Advisors LLC. purchased a new stake in shares of Power Solutions International in the fourth quarter valued at approximately $216,000. Finally, Evernest Financial Advisors LLC acquired a new stake in shares of Power Solutions International in the fourth quarter valued at approximately $223,000. Hedge funds and other institutional investors own 22.28% of the company’s stock.

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.