American Superconductor (NASDAQ:AMSC) Shares Down 4.5%

American Superconductor Co. (NASDAQ:AMSC)’s share price traded down 4.5% during trading on Tuesday . The stock traded as low as $22.41 and last traded at $22.53. 69,133 shares were traded during mid-day trading, a decline of 93% from the average session volume of 971,598 shares. The stock had previously closed at $23.60.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMSC shares. Roth Mkm reissued a “buy” rating and set a $29.00 price objective on shares of American Superconductor in a report on Monday. Craig Hallum reissued a “buy” rating and issued a $33.00 price objective on shares of American Superconductor in a report on Tuesday, September 10th.

American Superconductor Trading Down 8.2 %

The stock’s fifty day moving average is $21.63 and its two-hundred day moving average is $19.36. The firm has a market cap of $801.75 million, a P/E ratio of -56.05 and a beta of 2.13.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. The firm had revenue of $40.29 million for the quarter, compared to analysts’ expectations of $39.55 million. American Superconductor had a negative net margin of 5.29% and a positive return on equity of 1.15%. On average, analysts forecast that American Superconductor Co. will post 0.17 EPS for the current year.

Institutional Trading of American Superconductor

Large investors have recently modified their holdings of the business. Hood River Capital Management LLC purchased a new stake in American Superconductor during the first quarter valued at about $21,870,000. Assenagon Asset Management S.A. lifted its position in American Superconductor by 643.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock worth $24,725,000 after buying an additional 914,872 shares during the last quarter. Baillie Gifford & Co. boosted its stake in American Superconductor by 21.1% in the first quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock worth $34,134,000 after buying an additional 440,271 shares in the last quarter. AWM Investment Company Inc. grew its position in 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 during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of American Superconductor by 30.5% during the first quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock worth $22,953,000 after acquiring an additional 396,814 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.