American Superconductor (NASDAQ:AMSC) Trading 5.1% Higher

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Craig Hallum lifted their price objective on American Superconductor from $16.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 31st. Roth Mkm boosted their target price on American Superconductor from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, Oppenheimer boosted their target price on American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, May 31st.

American Superconductor Stock Up 4.8 %

The firm has a fifty day moving average price of $17.87 and a 200 day moving average price of $14.23.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings data 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. American Superconductor had a negative net margin of 7.63% and a negative return on equity of 4.26%. The firm had revenue of $42.03 million during the quarter, compared to analysts’ expectations of $36.75 million. Research analysts anticipate that American Superconductor Co. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO John W. Kosiba, Jr. sold 29,000 shares of the business’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 completion of the transaction, the chief financial officer now owns 348,136 shares in the company, valued at approximately $5,159,375.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Superconductor news, CEO Daniel P. Mcgahn sold 37,165 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total transaction of $806,108.85. Following the completion of the sale, the chief executive officer now owns 1,019,956 shares in the company, valued at approximately $22,122,845.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John W. Kosiba, Jr. sold 29,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $429,780.00. Following the sale, the chief financial officer now owns 348,136 shares of the company’s stock, valued at approximately $5,159,375.52. The disclosure for this sale can be found here. Insiders sold 118,724 shares of company stock worth $2,234,333 in the last quarter. Insiders own 4.40% of the company’s stock.

Institutional Trading of American Superconductor

Several institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its position in shares of American Superconductor by 58.9% in the 3rd 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 in the last quarter. Trexquant Investment LP bought a new stake in shares of American Superconductor in the 3rd quarter valued at $1,290,000. Citigroup Inc. bought a new stake in shares of American Superconductor in the 3rd quarter valued at $92,000. Baillie Gifford & Co. increased its position in shares of American Superconductor by 39.9% in the 4th quarter. Baillie Gifford & Co. now owns 2,086,279 shares of the technology company’s stock valued at $23,241,000 after buying an additional 594,909 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of American Superconductor in the 4th quarter valued at $293,000. 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 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.