American Superconductor (NASDAQ:AMSC) Shares Down 4.7% - Should You 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) traded down 4.7% during trading on Friday . The stock traded as low as $61.27 and last traded at $61.43. 673,474 shares traded hands during trading, a decline of 35% from the average session volume of 1,040,891 shares. The stock had previously closed at $64.49.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th. Oppenheimer reaffirmed an "outperform" rating on shares of American Superconductor in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, American Superconductor presently has an average rating of "Buy" and an average target price of $34.00.

American Superconductor Stock Performance

The firm has a 50 day simple moving average of $49.83 and a 200 day simple moving average of $33.30. The firm has a market cap of $2.81 billion, a P/E ratio of 159.82 and a beta of 2.88.

Insider Transactions at American Superconductor

In other American Superconductor news, Director Arthur H. House sold 9,703 shares of American Superconductor stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $50.92, for a total transaction of $494,076.76. Following the completion of the sale, the director owned 48,663 shares of the company's stock, valued at approximately $2,477,919.96. The trade was a 16.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Daniel P. Mcgahn sold 100,848 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $54.49, for a total value of $5,495,207.52. Following the completion of the sale, the chief executive officer owned 1,183,134 shares of the company's stock, valued at $64,468,971.66. This trade 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMSC. Deutsche Bank AG boosted its holdings in shares of American Superconductor by 43.8% in the fourth quarter. Deutsche Bank AG now owns 32,913 shares of the technology company's stock valued at $811,000 after acquiring an additional 10,029 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in American Superconductor by 18.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,306 shares of the technology company's stock valued at $549,000 after purchasing an additional 3,506 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of American Superconductor by 21.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,274 shares of the technology company's stock worth $1,805,000 after buying an additional 12,942 shares during the last quarter. Palisades Investment Partners LLC raised its holdings in American Superconductor by 9.5% in the fourth quarter. Palisades Investment Partners LLC now owns 142,415 shares of the technology company's stock worth $3,507,000 after purchasing an additional 12,317 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in American Superconductor in the fourth quarter valued at $279,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

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.

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