American Superconductor (NASDAQ:AMSC) Reaches New 52-Week High - Should You Buy?

American Superconductor Corporation (NASDAQ:AMSC - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $41.25 and last traded at $40.89, with a volume of 420665 shares changing hands. The stock had previously closed at $39.17.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded American Superconductor from a "hold" rating to a "buy" rating in a research report on Tuesday.

American Superconductor Trading Up 0.8%

The stock has a market capitalization of $1.63 billion, a P/E ratio of 275.87 and a beta of 2.91. The business has a 50-day moving average price of $31.33 and a 200 day moving average price of $25.96.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share 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 company had revenue of $66.66 million for the quarter, compared to analyst estimates of $60.27 million. The business's revenue was up 58.6% compared to the same quarter last year. On average, sell-side analysts predict that American Superconductor Corporation will post 0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other American Superconductor news, CFO John W. Kosiba, Jr. sold 4,744 shares of the stock in a transaction 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 sale, the chief financial officer owned 409,532 shares in the company, valued at $13,035,403.56. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 value of $244,663.98. Following the completion of the sale, the chief executive officer owned 1,296,797 shares in the company, valued at approximately $41,264,080.54. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,088 shares of company stock worth $4,952,531. Insiders own 4.80% of the company's stock.

Institutional Trading of American Superconductor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of American Superconductor by 2.9% in the first quarter. Vanguard Group Inc. now owns 2,287,585 shares of the technology company's stock valued at $41,497,000 after acquiring an additional 64,650 shares in the last quarter. AWM Investment Company Inc. grew its stake in shares of American Superconductor by 3.0% during the first quarter. AWM Investment Company Inc. now owns 1,558,478 shares of the technology company's stock worth $28,271,000 after acquiring an additional 45,000 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of American Superconductor by 18.0% during the fourth quarter. Driehaus Capital Management LLC now owns 942,698 shares of the technology company's stock worth $23,219,000 after acquiring an additional 143,936 shares during the last quarter. Royce & Associates LP grew its stake in shares of American Superconductor by 3.4% during the first quarter. Royce & Associates LP now owns 867,342 shares of the technology company's stock worth $15,734,000 after acquiring an additional 28,410 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of American Superconductor by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 856,455 shares of the technology company's stock worth $21,099,000 after acquiring an additional 9,043 shares during the last quarter. 52.28% of the stock is currently owned by institutional investors.

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.