American Superconductor (NASDAQ:AMSC) Reaches New 1-Year High - Still a Buy?

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.

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

Wall Street Analysts Forecast Growth

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

American Superconductor Price Performance

The stock has a market cap of $2.35 billion, a PE ratio of 132.61 and a beta of 2.95. The stock has a 50-day simple moving average of $38.64 and a 200-day simple moving average of $28.22.

American Superconductor (NASDAQ:AMSC - Get Free Report) last issued its earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. American Superconductor had a return on equity of 9.35% and a net margin of 6.00%. The business had revenue of $66.66 million during the quarter, compared to analysts' expectations of $60.27 million. The company's revenue was up 58.6% compared to the same quarter last year. As a group, equities research analysts anticipate that American Superconductor Corporation will post 0.41 EPS for the current year.

Insiders Place Their Bets

In other American Superconductor news, CFO John W. Kosiba, Jr. sold 50,000 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer owned 414,276 shares in the company, valued at $10,936,886.40. The trade was a 10.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel P. Mcgahn sold 122,655 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $26.39, for a total value of $3,236,865.45. Following the completion of the sale, the chief executive officer directly owned 1,304,486 shares of the company's stock, valued at $34,425,385.54. The trade was a 8.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 285,936 shares of company stock worth $10,447,738. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On American Superconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of American Superconductor by 104.7% during 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 during the period. Gen Wealth Partners Inc purchased a new stake in American Superconductor during the 4th quarter worth $58,000. SBI Securities Co. Ltd. increased its stake in 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. CWM LLC lifted its holdings in American Superconductor by 49.5% in the 1st quarter. CWM LLC now owns 7,915 shares of the technology company's stock worth $144,000 after buying an additional 2,622 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in American Superconductor by 16,566.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,000 shares of the technology company's stock valued at $147,000 after buying an additional 3,976 shares during the last quarter. 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 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.