American Superconductor (NASDAQ:AMSC) Shares Down 7.5% - Time to Sell?

Key Points

• American Superconductor's stock fell 7.5%, trading between $55.64 and $56.43, with volume down 16% from the average daily trading volume.
• The company's consensus rating is a Moderate Buy with an average price target of $39.00, despite recent trading losses.
• Insider selling activity has been notable, with the CEO and a director each reducing their holdings significantly over the past months.

American Superconductor Corporation (NASDAQ:AMSC - Get Free Report)'s stock price dropped 7.5% during trading on Tuesday . The stock traded as low as $55.64 and last traded at $56.43. Approximately 885,842 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 1,054,975 shares. The stock had previously closed at $60.98.

Wall Street Analysts Forecast Growth

AMSC has been the subject of several research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of American Superconductor in a report on Saturday, September 27th. Oppenheimer restated an "outperform" rating on shares of American Superconductor in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of American Superconductor from a "hold" rating to a "buy" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, American Superconductor presently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

American Superconductor Stock Down 5.9%

The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 147.72 and a beta of 3.00. The business's 50 day simple moving average is $54.24 and its 200 day simple moving average is $36.93.

Insider Activity

In other news, Director Arthur H. House sold 9,703 shares of the stock in a transaction dated 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 directly owned 48,663 shares of the company's stock, valued at $2,477,919.96. This represents a 16.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel P. Mcgahn sold 100,848 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $54.49, for a total transaction of $5,495,207.52. Following the completion of the transaction, the chief executive officer directly owned 1,183,134 shares in the company, valued at $64,468,971.66. The trade was 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.

Hedge Funds Weigh In On American Superconductor

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in American Superconductor by 104.7% during the second quarter. GAMMA Investing LLC now owns 954 shares of the technology company's stock worth $35,000 after acquiring an additional 488 shares during the period. Virtus Advisers LLC bought a new position in American Superconductor in the 2nd quarter valued at about $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 valued at $73,000 after buying an additional 1,000 shares during the period. Steward Partners Investment Advisory LLC bought a new position in American Superconductor in the 2nd quarter valued at about $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 valued at $142,000 after buying an additional 1,527 shares during the period. 52.28% of the stock is 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.

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