American Superconductor (NASDAQ:AMSC) Shares Down 2.9%

American Superconductor Co. (NASDAQ:AMSC)’s share price dropped 2.9% during trading on Monday . The stock traded as low as $22.61 and last traded at $22.70. Approximately 120,974 shares traded hands during 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

AMSC has been the topic of several research analyst reports. Roth Mkm boosted their price target on shares of American Superconductor from $20.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Craig Hallum upped their price objective on shares of American Superconductor from $16.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Oppenheimer upped their price objective 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 Price Performance

The stock has a market capitalization of $891.33 million, a P/E ratio of -61.77 and a beta of 2.17. The stock’s fifty day moving average is $18.33 and its 200-day moving average is $14.40.

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

Insiders Place Their Bets

In other American Superconductor news, CEO Daniel P. Mcgahn sold 37,165 shares of the business’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 completion of the transaction, the chief executive officer now owns 1,019,956 shares of the company’s stock, valued at approximately $22,122,845.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO John W. Kosiba, Jr. sold 29,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $429,780.00. Following the completion of the transaction, the chief financial officer now owns 348,136 shares of the company’s stock, valued at $5,159,375.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel P. Mcgahn sold 37,165 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold a total of 118,724 shares of company stock valued at $2,234,333 in the last quarter. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Psagot Value Holdings Ltd. Israel acquired a new position in shares of American Superconductor during the fourth quarter valued at about $33,000. AJOVista LLC acquired a new position in shares of American Superconductor during the fourth quarter valued at about $69,000. Virtu Financial LLC acquired a new position in shares of American Superconductor during the first quarter valued at about $152,000. Hillsdale Investment Management Inc. acquired a new position in shares of American Superconductor during the first quarter valued at about $153,000. Finally, Citigroup Inc. bought a new stake in 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.