American Superconductor (NASDAQ:AMSC) Trading Down 4.9%

Shares of American Superconductor Co. (NASDAQ:AMSC) traded down 4.9% during mid-day trading on Tuesday . The company traded as low as $23.14 and last traded at $23.25. 196,478 shares changed hands during trading, a decline of 80% from the average session volume of 964,743 shares. The stock had previously closed at $24.44.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Roth Mkm upped their price target on American Superconductor from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Craig Hallum reaffirmed a “buy” rating and set a $33.00 price target on shares of American Superconductor in a research report on Tuesday, September 10th. Finally, Oppenheimer upped their price target on American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st.

American Superconductor Price Performance

The stock has a market capitalization of $885.36 million, a PE ratio of -60.69 and a beta of 2.13. The business’s fifty day moving average price is $22.15 and its two-hundred day moving average price is $19.06.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $40.29 million for the quarter, compared to analyst estimates of $39.55 million. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. As a group, equities research analysts anticipate that American Superconductor Co. will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On American Superconductor

Large investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in American Superconductor by 2.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 39,146 shares of the technology company’s stock valued at $916,000 after purchasing an additional 828 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in American Superconductor by 453.8% in the second quarter. Point72 Asset Management L.P. now owns 20,490 shares of the technology company’s stock valued at $479,000 after purchasing an additional 16,790 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in American Superconductor in the second quarter valued at $307,000. Hood River Capital Management LLC boosted its holdings in American Superconductor by 7.2% in the second quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company’s stock valued at $40,582,000 after purchasing an additional 116,207 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in American Superconductor in the second quarter valued at $562,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

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.