American Superconductor (NASDAQ:AMSC) Sets New 12-Month High - Here's Why

Key Points

• American Superconductor shares reached a new 52-week high of $58.42 during trading, with a last traded price of $56.51 and a volume of 360,676 shares.
• Wall Street analysts have shown confidence in the company, with Oppenheimer maintaining an "outperform" rating and Wall Street Zen upgrading its rating from "hold" to "buy."
• The company reported a 58.6% increase in revenue for the last quarter, achieving $66.66 million, surpassing analyst estimates and contributing to a positive earnings report.

Shares of American Superconductor Corporation (NASDAQ:AMSC - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $58.42 and last traded at $56.51, with a volume of 360676 shares traded. The stock had previously closed at $55.52.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer reaffirmed an "outperform" rating on shares of American Superconductor in a research report on Thursday, July 31st. Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a research report on Tuesday, July 15th.

American Superconductor Price Performance

The stock's 50-day moving average price is $39.10 and its 200-day moving average price is $28.37. The company has a market cap of $2.30 billion, a P/E ratio of 130.75 and a beta of 2.95.

American Superconductor (NASDAQ:AMSC - Get Free Report) last announced its earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 6.00% and a return on equity of 9.35%. The business's revenue was up 58.6% on a year-over-year basis. As a group, analysts expect that American Superconductor Corporation will post 0.41 EPS for the current fiscal year.

Insider Activity

In related news, Director Arthur H. House sold 9,703 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $50.92, for a total value of $494,076.76. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $31.83, for a total value of $151,001.52. Following the completion of the transaction, the chief financial officer directly owned 409,532 shares of the company's stock, valued at approximately $13,035,403.56. This trade represents a 1.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 295,639 shares of company stock valued at $10,941,815. 4.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in American Superconductor by 104.7% in the second quarter. GAMMA Investing LLC now owns 954 shares of the technology company's stock valued at $35,000 after purchasing an additional 488 shares in the last quarter. California State Teachers Retirement System raised its stake in American Superconductor by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 35,559 shares of the technology company's stock valued at $876,000 after purchasing an additional 709 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in American Superconductor by 10.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,777 shares of the technology company's stock worth $322,000 after acquiring an additional 827 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in shares of American Superconductor by 9.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 10,302 shares of the technology company's stock worth $378,000 after acquiring an additional 850 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of American Superconductor by 1.9% in the 1st quarter. Sei Investments Co. now owns 53,070 shares of the technology company's stock valued at $963,000 after purchasing an additional 964 shares in the last quarter. 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.