American Superconductor (NASDAQ:AMSC) Trading Down 9.5% – Time to Sell?

American Superconductor Co. (NASDAQ:AMSC) dropped 9.5% during trading on Monday . The company traded as low as $17.56 and last traded at $17.43. Approximately 176,453 shares were traded during trading, a decline of 83% from the average daily volume of 1,054,300 shares. The stock had previously closed at $19.25.

Analysts Set New Price Targets

Separately, Oppenheimer increased their target price on shares of American Superconductor from $33.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th.

American Superconductor Price Performance

The firm has a market cap of $679.94 million, a P/E ratio of 246.28 and a beta of 2.45. The stock’s 50 day moving average is $26.88 and its two-hundred day moving average is $26.13.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. As a group, research analysts forecast that American Superconductor Co. will post 0.41 EPS for the current fiscal year.

Institutional Trading of American Superconductor

Several large investors have recently made changes to their positions in AMSC. Wellington Management Group LLP bought a new stake in American Superconductor during the 4th quarter worth about $11,360,000. Raymond James Financial Inc. acquired a new stake in American Superconductor during the 4th quarter worth approximately $10,188,000. Arrowstreet Capital Limited Partnership acquired a new position in American Superconductor in the 4th quarter worth $7,310,000. Balyasny Asset Management L.P. bought a new position in shares of American Superconductor during the 4th quarter worth approximately $5,886,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of American Superconductor by 211.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 304,528 shares of the technology company’s stock worth $7,187,000 after purchasing an additional 206,655 shares during 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 through Grid and Wind segments. 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.