American Superconductor (NASDAQ:AMSC) Trading Down 4.9%

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

Analysts Set New Price Targets

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

American Superconductor Stock Performance

The stock has a market capitalization of $885.36 million, a PE ratio of -60.69 and a beta of 2.13. The stock’s 50 day moving average is $22.15 and its two-hundred day moving average is $19.06.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results 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%. Equities research analysts expect that American Superconductor Co. will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMSC. Hood River Capital Management LLC purchased a new position in American Superconductor in the 1st quarter worth approximately $21,870,000. Assenagon Asset Management S.A. raised its position in shares of American Superconductor by 643.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company’s stock valued at $24,725,000 after buying an additional 914,872 shares during the period. Baillie Gifford & Co. raised its position in shares of American Superconductor by 21.1% during the 1st quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company’s stock valued at $34,134,000 after buying an additional 440,271 shares during the period. AWM Investment Company Inc. raised its position in shares of American Superconductor by 19.4% during the 1st 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 period. Finally, Vanguard Group Inc. raised its position in shares of American Superconductor by 30.5% during the 1st 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 period. 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.