Insider Selling: Eric A. Cohen Sells 21,094 Shares of Power Solutions International Stock (PSIX)
Power Solutions International (NASDAQ:PSIX) COO Eric A. Cohen sold 21,094 shares of the stock on the open market in a transaction dated Thursday, June 12th. The stock was sold at an average price of $75.82, for a total value of $1,599,347.08. Following the sale, the chief operating officer now directly owns 21,750 shares of the company’s stock, valued at approximately $1,649,085. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Power Solutions International (NASDAQ:PSIX) traded down 2.76% during mid-day trading on Friday, hitting $72.88. The stock had a trading volume of 60,373 shares. Power Solutions International has a 52 week low of $32.49 and a 52 week high of $88.96. The stock has a 50-day moving average of $77.95 and a 200-day moving average of $74.38. The company’s market cap is $769.8 million.
Power Solutions International (NASDAQ:PSIX) last announced its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.02. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $64.85 million. Power Solutions International’s revenue was up 26.8% compared to the same quarter last year. On average, analysts predict that Power Solutions International will post $1.43 earnings per share for the current fiscal year.
A number of research firms have recently commented on PSIX. Analysts at Zacks upgraded shares of Power Solutions International from a “neutral” rating to an “outperform” rating in a research note on Monday, May 12th. They now have a $87.90 price target on the stock. Separately, analysts at Litchfield Hills Research raised their price target on shares of Power Solutions International from $77.00 to $88.00 in a research note on Friday, May 9th. Finally, analysts at FBR Capital Markets raised their price target on shares of Power Solutions International from $80.00 to $95.00 in a research note on Monday, April 21st. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $78.74.
Power Solutions International, Inc, is a global producer and distributor of a ranges of high performance, certified low emission, power systems for original equipment manufacturers of off-highway industrial equipment.
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