American Superconductor (NASDAQ:AMSC) Given Hold (C) Rating at Weiss Ratings

Key Points

• American Superconductor's stock has been given a renewed "hold (c)" rating by Weiss Ratings, coinciding with a recent report highlighting an average consensus target price of $39.00.
• The company's shares surged 7.3% during mid-day trading, reaching $60.70, while the stock has a twelve-month range of $13.98 to $65.70.
• Insider activity saw CEO Daniel P. Mcgahn and Director Arthur H. House sell significant portions of their shares, indicating a decrease in their holdings by 7.85% and 16.62%, respectively.

American Superconductor (NASDAQ:AMSC - Get Free Report)'s stock had its "hold (c)" rating restated by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other research analysts have also issued research reports about the stock. Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a research report on Tuesday, July 15th. Oppenheimer reissued an "outperform" rating on shares of American Superconductor in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $39.00.

American Superconductor Stock Up 7.3%

Shares of AMSC traded up $4.15 during mid-day trading on Wednesday, hitting $60.70. 1,109,317 shares of the company's stock were exchanged, compared to its average volume of 1,061,548. American Superconductor has a twelve month low of $13.98 and a twelve month high of $65.70. The firm has a fifty day moving average of $54.50 and a two-hundred day moving average of $37.06. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 155.65 and a beta of 3.00.

Insider Activity

In other American Superconductor news, CEO Daniel P. Mcgahn sold 100,848 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $54.49, for a total value of $5,495,207.52. Following the completion of the sale, the chief executive officer owned 1,183,134 shares in the company, valued at approximately $64,468,971.66. This trade represents a 7.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Arthur H. House sold 9,703 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $50.92, for a total transaction of $494,076.76. Following the completion of the sale, the director owned 48,663 shares of the company's stock, valued at $2,477,919.96. The trade was a 16.62% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On American Superconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMSC. GAMMA Investing LLC grew its position in shares of American Superconductor by 104.7% during the 2nd quarter. GAMMA Investing LLC now owns 954 shares of the technology company's stock worth $35,000 after buying an additional 488 shares during the period. Virtus Advisers LLC acquired a new stake in shares of American Superconductor during the 2nd quarter worth approximately $69,000. Canada Pension Plan Investment Board grew its position in shares of American Superconductor by 100.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,000 shares of the technology company's stock worth $73,000 after buying an additional 1,000 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of American Superconductor during the 2nd quarter worth approximately $96,000. Finally, SBI Securities Co. Ltd. grew its position in shares of American Superconductor by 65.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,867 shares of the technology company's stock worth $142,000 after buying an additional 1,527 shares during the period. Institutional investors and hedge funds 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.

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