American Superconductor Corporation (NASDAQ:AMSC - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $39.70 and last traded at $39.19, with a volume of 1764175 shares trading hands. The stock had previously closed at $35.98.
Analysts Set New Price Targets
Separately, Wall Street Zen raised American Superconductor from a "hold" rating to a "buy" rating in a research report on Sunday.
View Our Latest Analysis on AMSC
American Superconductor Price Performance
The company has a market cap of $1.56 billion, a price-to-earnings ratio of 263.09 and a beta of 2.91. The firm's 50-day moving average price is $27.42 and its 200-day moving average price is $24.95.
American Superconductor (NASDAQ:AMSC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. American Superconductor had a return on equity of 8.89% and a net margin of 2.71%. The firm had revenue of $66.66 million during the quarter, compared to the consensus estimate of $60.27 million. American Superconductor's quarterly revenue was up 58.6% on a year-over-year basis. On average, sell-side analysts anticipate that American Superconductor Corporation will post 0.41 earnings per share for the current year.
Insider Buying and Selling at American Superconductor
In other American Superconductor news, CFO John W. Kosiba, Jr. sold 4,744 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $31.83, for a total value of $151,001.52. Following the transaction, the chief financial officer directly owned 409,532 shares of the company's stock, valued at $13,035,403.56. This represents a 1.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Daniel P. Mcgahn sold 7,689 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $31.82, for a total value of $244,663.98. Following the transaction, the chief executive officer owned 1,296,797 shares of the company's stock, valued at approximately $41,264,080.54. This trade represents a 0.59% decrease in their ownership of the stock. 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 ninety days. 4.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC lifted its position in shares of 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 stake in American Superconductor during the first quarter valued at approximately $699,000. Strs Ohio bought a new position in American Superconductor during the 1st quarter worth approximately $379,000. Goldman Sachs Group Inc. lifted its holdings in American Superconductor by 54.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 481,961 shares of the technology company's stock worth $8,743,000 after buying an additional 170,243 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of American Superconductor by 3,280.5% in the 1st quarter. Jones Financial Companies Lllp now owns 99,994 shares of the technology company's stock worth $1,814,000 after acquiring an additional 97,036 shares in the last quarter. 52.28% of the stock is currently owned by institutional investors.
American Superconductor Company Profile
(
Get Free Report)
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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