Farther Finance Advisors LLC Grows Stock Holdings in Power Solutions International, Inc. $PSIX

Farther Finance Advisors LLC raised its position in Power Solutions International, Inc. (NASDAQ:PSIX) by 88.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,651 shares of the company’s stock after acquiring an additional 773 shares during the quarter. Farther Finance Advisors LLC’s holdings in Power Solutions International were worth $107,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PSIX. Ritholtz Wealth Management purchased a new position in shares of Power Solutions International in the first quarter valued at about $1,008,000. Spire Wealth Management increased its position in shares of Power Solutions International by 84.5% in the first quarter. Spire Wealth Management now owns 5,984 shares of the company’s stock valued at $151,000 after acquiring an additional 2,741 shares during the period. D.A. Davidson & CO. purchased a new position in shares of Power Solutions International in the first quarter valued at about $257,000. Burney Co. purchased a new position in shares of Power Solutions International in the first quarter valued at about $857,000. Finally, Cetera Investment Advisers purchased a new position in shares of Power Solutions International in the first quarter valued at about $516,000. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Power Solutions International in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Power Solutions International has an average rating of “Buy” and a consensus target price of $37.00.

Power Solutions International Stock Down 4.3%

Shares of Power Solutions International stock opened at $92.28 on Friday. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 19.19 and a beta of 1.53. The company’s 50 day moving average is $92.54 and its 200 day moving average is $61.01. Power Solutions International, Inc. has a twelve month low of $15.30 and a twelve month high of $121.78. The company has a quick ratio of 0.65, a current ratio of 1.26 and a debt-to-equity ratio of 0.01.

Power Solutions International (NASDAQ:PSIX) last announced its earnings results on Thursday, August 7th. The company reported $2.23 EPS for the quarter. Power Solutions International had a net margin of 18.56% and a return on equity of 136.57%. The business had revenue of $191.91 million during the quarter.

Insider Activity at Power Solutions International

In other Power Solutions International news, Director Hong He sold 2,500 shares of Power Solutions International stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $90.03, for a total value of $225,075.00. Following the completion of the transaction, the director directly owned 26,250 shares of the company’s stock, valued at $2,363,287.50. This trade represents a 8.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frank P. Simpkins sold 10,000 shares of Power Solutions International stock in a transaction on Monday, August 25th. The stock was sold at an average price of $91.64, for a total transaction of $916,400.00. Following the completion of the transaction, the director directly owned 25,000 shares of the company’s stock, valued at $2,291,000. The trade was a 28.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 211,014 shares of company stock valued at $18,768,831 in the last ninety days. Corporate insiders own 0.96% 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.