American Superconductor (NASDAQ:AMSC) Reaches New 52-Week High - Time to Buy?

American Superconductor Corporation (NASDAQ:AMSC - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $39.70 and last traded at $39.19, with a volume of 1764175 shares changing hands. The stock had previously closed at $35.98.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th.

American Superconductor Price Performance

The company's 50 day simple moving average is $28.19 and its 200 day simple moving average is $25.15. The stock has a market cap of $1.56 billion, a P/E ratio of 263.09 and a beta of 2.91.

American Superconductor (NASDAQ:AMSC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. American Superconductor had a net margin of 2.71% and a return on equity of 8.89%. The company had revenue of $66.66 million during the quarter, compared to the consensus estimate of $60.27 million. The company's quarterly revenue was up 58.6% compared to the same quarter last year. On average, equities research analysts predict that American Superconductor Corporation will post 0.41 earnings per share for the current year.

Insider Buying and Selling at American Superconductor

In other news, CFO John W. Kosiba, Jr. sold 4,744 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $31.83, for a total transaction of $151,001.52. Following the completion of the sale, the chief financial officer owned 409,532 shares of the company's stock, valued at $13,035,403.56. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel P. Mcgahn sold 7,689 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $31.82, for a total transaction of $244,663.98. Following the sale, the chief executive officer directly owned 1,296,797 shares of the company's stock, valued at $41,264,080.54. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,088 shares of company stock valued at $4,952,531 in the last three months. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC boosted its holdings in American Superconductor by 81.0% during the first quarter. Voya Investment Management LLC now owns 19,199 shares of the technology company's stock worth $348,000 after purchasing an additional 8,594 shares during the last quarter. Inspire Investing LLC acquired a new position in American Superconductor during the first quarter worth $699,000. Strs Ohio acquired a new position in American Superconductor during the first quarter worth $379,000. Goldman Sachs Group Inc. boosted its holdings in American Superconductor by 54.6% during the first quarter. Goldman Sachs Group Inc. now owns 481,961 shares of the technology company's stock worth $8,743,000 after purchasing an additional 170,243 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in American Superconductor by 3,280.5% during the first quarter. Jones Financial Companies Lllp now owns 99,994 shares of the technology company's stock worth $1,814,000 after purchasing an additional 97,036 shares during 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.