American Superconductor (NASDAQ:AMSC) Stock Price Down 5.8%

Shares of American Superconductor Co. (NASDAQ:AMSC) were down 5.8% during trading on Tuesday . The stock traded as low as $23.01 and last traded at $23.08. Approximately 340,812 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 975,053 shares. The stock had previously closed at $24.50.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMSC shares. Roth Mkm upped their price objective on shares of American Superconductor from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Oppenheimer increased their target price on shares of American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, May 31st.

American Superconductor Trading Down 6.2 %

The stock’s fifty day moving average price is $23.73 and its two-hundred day moving average price is $16.62. The firm has a market capitalization of $849.89 million, a price-to-earnings ratio of -59.18 and a beta of 2.17.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. American Superconductor had a negative net margin of 7.63% and a negative return on equity of 4.26%. The business had revenue of $42.03 million for the quarter, compared to analyst estimates of $36.75 million. Analysts anticipate that American Superconductor Co. will post -0.04 earnings per share for the current fiscal year.

Insider Activity at American Superconductor

In related news, CEO Daniel P. Mcgahn sold 37,165 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total value of $806,108.85. Following the transaction, the chief executive officer now directly owns 1,019,956 shares of the company’s stock, valued at approximately $22,122,845.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other American Superconductor news, CEO Daniel P. Mcgahn sold 37,165 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total transaction of $806,108.85. Following the transaction, the chief executive officer now directly owns 1,019,956 shares of the company’s stock, valued at approximately $22,122,845.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John W. Kosiba, Jr. sold 32,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $21.68, for a total transaction of $693,760.00. Following the transaction, the chief financial officer now directly owns 316,136 shares in the company, valued at $6,853,828.48. The disclosure for this sale can be found here. Insiders have sold 118,724 shares of company stock valued at $2,234,333 in the last ninety days. Insiders own 4.40% of the company’s stock.

Institutional Trading of American Superconductor

Hedge funds have recently made changes to their positions in the company. Psagot Value Holdings Ltd. Israel acquired a new stake in shares of American Superconductor in the 4th quarter worth $33,000. AJOVista LLC acquired a new stake in shares of American Superconductor in the fourth quarter valued at about $69,000. Virtu Financial LLC acquired a new stake in shares of American Superconductor in the first quarter valued at about $152,000. Hillsdale Investment Management Inc. acquired a new stake in shares of American Superconductor in the first quarter valued at about $153,000. Finally, Citigroup Inc. acquired a new stake in shares of American Superconductor in the third quarter valued at about $92,000. Institutional investors and hedge funds own 52.28% of the company’s stock.

About American Superconductor

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.