American Superconductor (NASDAQ:AMSC) Shares Down 4.7% - Time to Sell?

Key Points

• American Superconductor's shares fell by 4.7% during trading on Friday, closing at $61.43 after previously trading at $64.49.
• Despite recent stock drops, Wall Street analysts have upgraded their ratings, with two analysts rating the stock as a Buy and an overall average target price of $34.00.
• Insider selling activity was noted, with Director Arthur H. House and CEO Daniel P. Mcgahn significantly reducing their shareholdings in August.

Shares of American Superconductor Corporation (NASDAQ:AMSC - Get Free Report) dropped 4.7% during trading on Friday . The stock traded as low as $61.27 and last traded at $61.43. Approximately 673,474 shares changed hands during trading, a decline of 35% from the average daily volume of 1,040,891 shares. The stock had previously closed at $64.49.

Analysts Set New Price Targets

AMSC has been the topic of several recent analyst reports. Oppenheimer reissued an "outperform" rating on shares of American Superconductor in a research report on Thursday, July 31st. Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $34.00.

American Superconductor Trading Up 5.0%

The company's 50 day moving average price is $50.76 and its two-hundred day moving average price is $34.10. The stock has a market cap of $2.92 billion, a P/E ratio of 109.91 and a beta of 2.89.

Insider Activity at American Superconductor

In other news, Director Arthur H. House sold 9,703 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $50.92, for a total value of $494,076.76. Following the transaction, the director owned 48,663 shares in the company, valued at $2,477,919.96. This represents a 16.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel P. Mcgahn sold 100,848 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $54.49, for a total transaction of $5,495,207.52. Following the completion of the sale, the chief executive officer directly owned 1,183,134 shares of the company's stock, valued at $64,468,971.66. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Superconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMSC. GAMMA Investing LLC increased its holdings in American Superconductor by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 954 shares of the technology company's stock worth $35,000 after acquiring an additional 488 shares in the last quarter. Virtus Advisers LLC purchased a new stake in American Superconductor in the 2nd quarter worth approximately $69,000. Canada Pension Plan Investment Board increased its holdings in American Superconductor by 100.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,000 shares of the technology company's stock worth $73,000 after acquiring an additional 1,000 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in American Superconductor in the 2nd quarter worth approximately $96,000. Finally, SBI Securities Co. Ltd. increased its holdings in American Superconductor by 65.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,867 shares of the technology company's stock worth $142,000 after acquiring an additional 1,527 shares in the last quarter. 52.28% of the stock is owned by hedge funds and other institutional investors.

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.