Gary S. Winemaster, a ten percent owner of Power Solutions International, Inc. (NASDAQ:PSIX), has sold 25,000 shares of common stock, according to a recent SEC filing. The company, with a market capitalization of $639 million, has seen remarkable performance with a 1,356% return year-to-date. The shares were sold at a weighted average price of $31.6227, generating a total transaction value of approximately $790,567. Following the sale, Winemaster holds 3,071,012 shares directly, with an additional 681 shares indirectly owned through a spouse. The sale was executed on December 2, 2024. Trading at a P/E ratio of 11.7 and currently below its InvestingPro Fair Value, PSIX has demonstrated strong momentum with a 572% gain over the past six months. For comprehensive insider trading analysis and 12 additional ProTips, explore InvestingPro.
"In other recent news, Power Solutions has been the focus of attention due to its financial performance. The company's third-quarter results surpassed expectations in terms of revenue, EBITDA, and EPS, as highlighted by Craig-Hallum, which also increased the price target to $37.00 from $22.00 and reaffirmed a Buy rating. These recent developments are underpinned by the company's commitment to profitability, as demonstrated by its forecast for a year-over-year revenue growth of +3% for fiscal year 2024.
Significant growth in the Power Systems segment, driven by its expanding role in data center applications, supports this projection. Craig-Hallum noted that strategic decisions such as cost optimization and moving away from unprofitable ventures have contributed to Power Solutions' profitability focus. The firm also pointed out the potential for Power Systems to benefit from the increasing energy requirements of data centers and artificial intelligence.
In a previous update, Craig-Hallum raised the price target for Power Solutions from $10.00 to $22.00, maintaining a Buy rating, following the company's robust second-quarter performance. Despite marginally falling short of revenue expectations, the company's record gross margin resulted in a significant beat in adjusted EBITDA and EPS. These recent developments come amidst ongoing discussions about potentially uplisting the company's shares to a larger exchange."
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