American Superconductor (NASDAQ:AMSC) Shares Down 5.4%

American Superconductor Co. (NASDAQ:AMSC) dropped 5.4% on Tuesday . The company traded as low as $21.03 and last traded at $21.09. Approximately 249,207 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 969,739 shares. The stock had previously closed at $22.29.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Oppenheimer increased 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. Roth Mkm upped their target price on American Superconductor from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th.

American Superconductor Stock Down 8.4 %

The firm has a market cap of $755.13 million, a price-to-earnings ratio of -52.46 and a beta of 2.17. The company’s 50-day moving average price is $24.56 and its 200-day moving average price is $17.69.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $36.75 million. Analysts predict that American Superconductor Co. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Daniel P. Mcgahn sold 37,165 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,019,956 shares of the company’s stock, valued at $22,122,845.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Daniel P. Mcgahn sold 37,165 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was 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 $22,122,845.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John W. Kosiba, Jr. sold 32,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $21.68, for a total value of $693,760.00. Following the completion of the sale, the chief financial officer now directly owns 316,136 shares of the company’s stock, valued at approximately $6,853,828.48. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMSC. Amalgamated Bank acquired a new stake in American Superconductor during the second quarter worth about $28,000. nVerses Capital LLC purchased a new stake in shares of American Superconductor in the 2nd quarter valued at approximately $42,000. Atria Wealth Solutions Inc. grew its stake in shares of American Superconductor by 18.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 14,469 shares of the technology company’s stock valued at $161,000 after buying an additional 2,294 shares during the period. Psagot Value Holdings Ltd. Israel acquired a new stake in shares of American Superconductor during the 4th quarter worth approximately $33,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of American Superconductor during the 2nd quarter valued at approximately $96,000. 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.