American Superconductor (NASDAQ:AMSC) Shares Down 3.7% – Time to Sell?

American Superconductor Co. (NASDAQ:AMSC) traded down 3.7% on Friday . The company traded as low as $25.22 and last traded at $25.51. 119,347 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,076,163 shares. The stock had previously closed at $26.48.

Analyst Upgrades and Downgrades

AMSC has been the subject of several recent analyst reports. Craig Hallum reaffirmed a “buy” rating and issued a $33.00 target price on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm restated a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a research note on Monday, September 30th.

American Superconductor Price Performance

The stock’s 50 day simple moving average is $28.90 and its two-hundred day simple moving average is $25.26. The stock has a market capitalization of $988.69 million, a PE ratio of -501.10 and a beta of 2.21.

Hedge Funds Weigh In On American Superconductor

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of American Superconductor by 524.1% in the second quarter. Bank of New York Mellon Corp now owns 122,239 shares of the technology company’s stock valued at $2,859,000 after buying an additional 102,652 shares during the period. nVerses Capital LLC bought a new stake in American Superconductor in the 2nd quarter valued at about $42,000. Lisanti Capital Growth LLC purchased a new stake in American Superconductor during the second quarter valued at about $1,462,000. Hussman Strategic Advisors Inc. boosted its position in American Superconductor by 20.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the technology company’s stock worth $2,947,000 after purchasing an additional 21,000 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of American Superconductor by 3,234.0% in the second quarter. Rhumbline Advisers now owns 46,276 shares of the technology company’s stock worth $1,082,000 after purchasing an additional 44,888 shares in the last quarter. Hedge funds and other institutional investors own 52.28% of the company’s stock.

About American Superconductor

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates through Grid and Wind segments. 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.