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

American Superconductor Corporation (NASDAQ:AMSC - Get Free Report)'s share price 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 traded. The stock had previously closed at $39.17.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut American Superconductor from a "buy" rating to a "hold" rating in a research report on Monday, July 7th.

American Superconductor Stock Performance

The company has a market cap of $1.61 billion, a PE ratio of 271.40 and a beta of 2.91. The firm has a fifty day simple moving average of $30.52 and a 200 day simple moving average of $25.75.

American Superconductor (NASDAQ:AMSC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate 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 return on equity of 8.89% and a net margin of 2.71%. The business's revenue for the quarter was up 58.6% compared to the same quarter last year. As a group, equities analysts predict that American Superconductor Corporation will post 0.41 EPS for the current fiscal year.

Insider Activity

In other American Superconductor news, CFO John W. Kosiba, Jr. sold 4,744 shares of American Superconductor stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $31.83, for a total value of $151,001.52. Following the completion of the sale, the chief financial officer owned 409,532 shares in the company, valued at $13,035,403.56. The trade was a 1.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel P. Mcgahn sold 7,689 shares of American Superconductor stock in a transaction dated Friday, June 6th. The shares were 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 of the company's stock, valued at $41,264,080.54. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,088 shares of company stock valued at $4,952,531 in the last 90 days. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On American Superconductor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Counterpoint Mutual Funds LLC acquired a new position in shares of American Superconductor in the 2nd quarter valued at about $436,000. GAMMA Investing LLC lifted its stake in shares of American Superconductor by 104.7% in the 2nd 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. Diversified Trust Co acquired a new position in shares of American Superconductor in the 2nd quarter valued at about $316,000. Assenagon Asset Management S.A. acquired a new position in shares of American Superconductor in the 2nd quarter valued at about $228,000. Finally, Andrew Hill Investment Advisors Inc. lifted its stake in shares of American Superconductor by 109.6% in the 2nd quarter. Andrew Hill Investment Advisors Inc. now owns 152,779 shares of the technology company's stock valued at $5,605,000 after purchasing an additional 79,888 shares in the last quarter. 52.28% of the stock is owned by institutional investors and hedge funds.

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.