Power Solutions International (NASDAQ:PSIX) Shares Up 8% – Still a Buy?

Power Solutions International Inc (NASDAQ:PSIX)’s stock price rose 8% during mid-day trading on Monday . The stock traded as high as $33.91 and last traded at $32.92. Approximately 33,092 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 307,803 shares. The stock had previously closed at $30.49.

Power Solutions International Price Performance

The stock has a market cap of $737.38 million, a PE ratio of 13.58 and a beta of 1.04. The firm’s 50-day moving average price is $35.63.

Insider Buying and Selling at Power Solutions International

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 15,181 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $37.05, for a total transaction of $562,456.05. Following the completion of the transaction, the insider now owns 2,999,102 shares of the company’s stock, valued at $111,116,729.10. This represents a 0.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 50,625 shares of company stock valued at $1,683,476 in the last quarter. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Gagnon Securities LLC purchased a new stake in shares of Power Solutions International in the 4th quarter worth about $25,292,000. Gagnon Advisors LLC purchased a new stake in Power Solutions International in the fourth quarter worth about $13,987,000. Portolan Capital Management LLC bought a new stake in Power Solutions International during the 4th quarter valued at approximately $10,153,000. S Squared Technology LLC purchased a new position in shares of Power Solutions International during the 4th quarter worth approximately $8,718,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Power Solutions International in the 4th quarter worth approximately $2,168,000. 22.28% of the stock is 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.