American Superconductor (NASDAQ:AMSC) Trading Down 2.9%

Shares of American Superconductor Co. (NASDAQ:AMSC) dropped 2.9% on Monday . The stock traded as low as $22.61 and last traded at $22.70. Approximately 120,974 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 918,302 shares. The stock had previously closed at $23.39.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMSC. Craig Hallum upped their target price on American Superconductor from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Roth Mkm upped their target price on American Superconductor from $20.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, Oppenheimer upped their target price on American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st.

American Superconductor Stock Performance

The business has a fifty day moving average of $17.87 and a 200 day moving average of $14.23.

American Superconductor (NASDAQ:AMSC) last announced its earnings results on Wednesday, May 29th. The technology company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $42.03 million during the quarter, compared to the consensus estimate of $36.75 million. American Superconductor had a negative return on equity of 4.26% and a negative net margin of 7.63%. On average, research analysts expect that American Superconductor Co. will post -0.04 EPS for the current year.

Insider Activity at American Superconductor

In related news, CEO Daniel P. Mcgahn sold 20,559 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total transaction of $304,684.38. Following the completion of the transaction, the chief executive officer now owns 1,057,121 shares in the company, valued at $15,666,533.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other American Superconductor news, CFO John W. Kosiba, Jr. sold 32,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $21.68, for a total value of $693,760.00. Following the completion of the transaction, the chief financial officer now owns 316,136 shares in the company, valued at $6,853,828.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel P. Mcgahn sold 20,559 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total value of $304,684.38. Following the completion of the transaction, the chief executive officer now owns 1,057,121 shares of the company’s stock, valued at approximately $15,666,533.22. The disclosure for this sale can be found here. Insiders sold a total of 118,724 shares of company stock worth $2,234,333 over the last quarter. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Superconductor

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of American Superconductor during the first quarter valued at $152,000. AWM Investment Company Inc. increased its holdings in shares of American Superconductor by 19.4% during the first quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock valued at $35,954,000 after acquiring an additional 433,018 shares in the last quarter. Hood River Capital Management LLC bought a new position in shares of American Superconductor during the first quarter valued at $21,870,000. Quadrature Capital Ltd bought a new position in shares of American Superconductor during the first quarter valued at $203,000. Finally, CM Management LLC increased its holdings in shares of American Superconductor by 28.2% during the first quarter. CM Management LLC now owns 250,000 shares of the technology company’s stock valued at $3,378,000 after acquiring an additional 55,000 shares in the last quarter. Institutional investors own 52.28% of the company’s stock.

American Superconductor Company Profile

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand; and engineering planning services.