Nuscale Power earnings missed by $0.02, revenue fell short of estimates
Gary S. Winemaster, a ten percent owner of Power Solutions International, Inc. (NASDAQ:PSIX), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Winemaster sold 15,181 shares of common stock on January 14, 2025. The shares were sold at a weighted average price of $37.0509, with transaction prices ranging from $37.00 to $37.21, totaling approximately $562,469. The sale comes as PSIX trades near its 52-week high of $38.87, with the stock showing remarkable momentum, gaining over 1,898% in the past year according to InvestingPro data.
Following this transaction, Winemaster retains direct ownership of 2,999,102 shares. Additionally, an indirect holding of 681 shares is attributed to his spouse. The company, currently valued at $827.3M, trades at a P/E ratio of 15.18 and maintains a GREAT financial health score according to InvestingPro, which offers 12 additional investment tips for PSIX.
In other recent news, Power Solutions has been receiving attention for its impressive financial performance. The company's third quarter results exceeded expectations in terms of revenue, EBITDA, and EPS, prompting Craig-Hallum to raise the price target to $37.00 from the previous $22.00, while maintaining a Buy rating. Power Solutions has projected a year-over-year revenue growth of +3% for fiscal year 2024, backed by the strong performance of the Power Systems segment.
This segment, which has shown significant growth of +39% year-over-year, is expected to benefit from the increasing energy requirements of data centers and artificial intelligence. Power Solutions' strategic decisions, including cost optimization and divestment from unprofitable businesses, have been acknowledged by Craig-Hallum as key factors in the positive rating and increased price target.
Additionally, Power Solutions' second-quarter performance has also been noteworthy. Despite narrowly missing revenue expectations, the company's record gross margin resulted in a significant beat in adjusted EBITDA and EPS. The company's commitment to profitability, demonstrated through an optimized cost structure and additional debt repayment, is expected to continue attracting investor interest. These recent developments have spurred discussions about potentially uplisting the company's shares to a larger exchange.
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