American Superconductor (NASDAQ:AMSC) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen lowered shares of American Superconductor (NASDAQ:AMSC - Free Report) from a buy rating to a hold rating in a report published on Saturday morning.

American Superconductor Stock Up 3.4%

Shares of NASDAQ:AMSC traded up $1.11 during midday trading on Friday, reaching $33.53. The company's stock had a trading volume of 1,109,903 shares, compared to its average volume of 1,139,692. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 223.53 and a beta of 2.87. The business has a 50 day moving average price of $24.93 and a 200 day moving average price of $24.49. American Superconductor has a 1 year low of $13.98 and a 1 year high of $38.02.

American Superconductor (NASDAQ:AMSC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $66.66 million during the quarter, compared to analysts' expectations of $60.27 million. American Superconductor had a return on equity of 8.89% and a net margin of 2.71%. The business's revenue for the quarter was up 58.6% compared to the same quarter last year. Sell-side analysts anticipate that American Superconductor will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at American Superconductor

In other news, CEO Daniel P. Mcgahn sold 122,655 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $26.39, for a total transaction of $3,236,865.45. Following the completion of the sale, the chief executive officer now owns 1,304,486 shares in the company, valued at approximately $34,425,385.54. The trade was a 8.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $26.40, for a total transaction of $1,320,000.00. Following the sale, the chief financial officer now directly owns 414,276 shares of the company's stock, valued at approximately $10,936,886.40. This trade represents a 10.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,088 shares of company stock worth $4,952,531 in the last quarter. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On American Superconductor

Institutional investors have recently bought and sold shares of the business. Atreides Management LP purchased a new position in shares of American Superconductor in the 1st quarter valued at $14,948,000. Nuveen LLC purchased a new position in American Superconductor in the first quarter valued at about $14,123,000. Wellington Management Group LLP acquired a new position in shares of American Superconductor during the fourth quarter worth about $11,360,000. Raymond James Financial Inc. purchased a new stake in shares of American Superconductor in the fourth quarter worth about $10,188,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of American Superconductor in the fourth quarter worth about $7,310,000. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

American Superconductor Company Profile

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.