Power Solutions International, Inc. (PSIX) Major Shareholder Purchases $1,900,000.00 in Stock
Power Solutions International, Inc. (OTC:PSIX) major shareholder America Corp. Weichai bought 200,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were bought at an average price of $9.50 per share, with a total value of $1,900,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Power Solutions International, Inc. (OTC PSIX) traded up 0.55% during trading on Thursday, hitting $9.10. The company had a trading volume of 2,391 shares. The stock has a market capitalization of $99.00 million, a price-to-earnings ratio of 92.86 and a beta of 2.73. The stock has a 50-day moving average of $9.05 and a 200 day moving average of $8.05. Power Solutions International, Inc. has a 12-month low of $2.76 and a 12-month high of $15.81.
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A number of large investors have recently made changes to their positions in the stock. Gagnon Securities LLC boosted its stake in shares of Power Solutions International by 38.6% in the second quarter. Gagnon Securities LLC now owns 484,678 shares of the company’s stock worth $4,314,000 after buying an additional 135,069 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Power Solutions International during the first quarter worth approximately $229,000. FNY Managed Accounts LLC purchased a new stake in shares of Power Solutions International during the first quarter worth approximately $15,586,000. Elk Creek Partners LLC boosted its stake in shares of Power Solutions International by 45.1% in the first quarter. Elk Creek Partners LLC now owns 748,747 shares of the company’s stock worth $7,555,000 after buying an additional 232,566 shares during the period. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of Power Solutions International during the first quarter worth approximately $178,000. 24.61% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded Power Solutions International from a “sell” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, May 30th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $13.33.
Power Solutions International Company Profile
Power Solutions International, Inc is a producer and distributor of a range of low-emission power systems that run on non-diesel fuels, such as natural gas, propane and gasoline. The Company’s industrial power systems are used by original equipment manufacturers (OEMs) in a range of industries with a diversified set of applications, including stationary electricity generators, oil and gas equipment, forklifts, aerial work platforms, industrial sweepers, arbor equipment, agricultural and turf equipment, aircraft ground support equipment, construction and irrigation equipment, and other industrial equipment.
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