Power Solutions International (NASDAQ:PSIX) Shares Gap Down – What’s Next?

Power Solutions International Inc (NASDAQ:PSIX) gapped down before the market opened 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 Performance

The stock has a market capitalization of $684.02 million, a PE ratio of 12.60 and a beta of 1.03. The company’s 50-day moving average is $36.47.

Insiders Place Their Bets

In other Power Solutions International news, major shareholder Gary S. Winemaster sold 17,983 shares of Power Solutions International stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $36.84, for a total transaction of $662,493.72. Following the completion of the sale, the insider now directly owns 2,981,119 shares in the company, valued at $109,824,423.96. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 50,625 shares of company stock valued at $1,683,476 over the last quarter. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Power Solutions International

A number of hedge funds and other institutional investors have recently bought and sold shares of PSIX. Gagnon Securities LLC purchased a new stake in Power Solutions International during the 4th quarter worth approximately $25,292,000. Gagnon Advisors LLC purchased a new stake in Power Solutions International during the 4th quarter worth approximately $13,987,000. Portolan Capital Management LLC purchased a new position in Power Solutions International in the fourth quarter valued at $10,153,000. S Squared Technology LLC purchased a new position in Power Solutions International in the fourth quarter valued at $8,718,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Power Solutions International in the fourth quarter valued at $2,168,000. 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.