American Superconductor (NASDAQ:AMSC) Trading Down 2.9%

American Superconductor Co. (NASDAQ:AMSC) shares traded down 2.9% during trading on Monday . The company traded as low as $22.61 and last traded at $22.70. 120,974 shares were traded during mid-day trading, a decline of 87% from the average session volume of 918,302 shares. The stock had previously closed at $23.39.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Craig Hallum increased their price objective on American Superconductor from $16.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Roth Mkm raised their price target on American Superconductor from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Oppenheimer raised 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 company has a 50-day moving average price of $17.87 and a 200-day moving average price of $14.23.

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

Insiders Place Their Bets

In other American Superconductor news, CEO Daniel P. Mcgahn sold 37,165 shares of American Superconductor stock in a transaction dated Tuesday, June 11th. The stock was 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 in the company, valued at $22,122,845.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other American Superconductor news, CEO Daniel P. Mcgahn sold 20,559 shares of American Superconductor stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel P. Mcgahn sold 37,165 shares of American Superconductor stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total value of $806,108.85. Following the completion of the sale, the chief executive officer now directly owns 1,019,956 shares in the company, valued at approximately $22,122,845.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,724 shares of company stock worth $2,234,333. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of American Superconductor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hood River Capital Management LLC acquired a new stake in shares of American Superconductor in the first quarter valued at about $21,870,000. Baillie Gifford & Co. increased its position in shares of American Superconductor by 39.9% in the fourth quarter. Baillie Gifford & Co. now owns 2,086,279 shares of the technology company’s stock valued at $23,241,000 after acquiring an additional 594,909 shares during the last quarter. AWM Investment Company Inc. increased its position in shares of American Superconductor by 19.4% in 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. Vanguard Group Inc. increased its position in shares of American Superconductor by 30.5% in the first quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock valued at $22,953,000 after acquiring an additional 396,814 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of American Superconductor by 58.9% in the third quarter. Invesco Ltd. now owns 873,006 shares of the technology company’s stock valued at $6,591,000 after acquiring an additional 323,472 shares during the last quarter. Institutional investors and hedge funds 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.