American Superconductor (NASDAQ:AMSC) Trading 5.1% Higher

American Superconductor Co. (NASDAQ:AMSC) rose 5.1% during trading on Tuesday . The stock traded as high as $24.19 and last traded at $24.15. Approximately 396,363 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 920,139 shares. The stock had previously closed at $22.98.

Wall Street Analyst Weigh In

AMSC has been the subject of several research reports. 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. Oppenheimer increased their price target on shares of American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Finally, Roth Mkm increased their price target on shares of American Superconductor from $20.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th.

American Superconductor Stock Performance

The business’s 50 day simple moving average is $17.87 and its two-hundred day simple moving average is $14.23.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The firm had revenue of $42.03 million for the quarter, compared to the consensus estimate 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, equities research analysts predict that American Superconductor Co. will post -0.04 earnings per share for the current year.

Insider Activity

In other news, CEO Daniel P. Mcgahn sold 20,559 shares of the firm’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 $304,684.38. Following the sale, the chief executive officer now owns 1,057,121 shares of the company’s stock, valued at approximately $15,666,533.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO John W. Kosiba, Jr. sold 29,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total value of $429,780.00. Following the transaction, the chief financial officer now owns 348,136 shares of the company’s stock, valued at $5,159,375.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel P. Mcgahn sold 20,559 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total transaction of $304,684.38. Following the completion of the transaction, the chief executive officer now directly owns 1,057,121 shares in the company, valued at approximately $15,666,533.22. The disclosure for this sale can be found here. Insiders have sold a total of 118,724 shares of company stock valued at $2,234,333 in the last 90 days. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American Superconductor

Institutional investors and hedge funds have recently made changes to their positions in the business. Hood River Capital Management LLC purchased a new position in American Superconductor during the first quarter valued at approximately $21,870,000. Baillie Gifford & Co. lifted its holdings in American Superconductor by 39.9% during the fourth quarter. Baillie Gifford & Co. now owns 2,086,279 shares of the technology company’s stock valued at $23,241,000 after purchasing an additional 594,909 shares in the last quarter. AWM Investment Company Inc. raised its position in shares of 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 buying an additional 433,018 shares during the last quarter. Vanguard Group Inc. raised its position 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 valued at $22,953,000 after buying an additional 396,814 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of American Superconductor by 58.9% during the third quarter. Invesco Ltd. now owns 873,006 shares of the technology company’s stock valued at $6,591,000 after buying an additional 323,472 shares during the last quarter. Hedge funds and other 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.