American Superconductor (NASDAQ:AMSC) Shares Gap Down - What's Next?

American Superconductor Co. (NASDAQ:AMSC - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $34.45, but opened at $28.60. American Superconductor shares last traded at $28.64, with a volume of 2,473,026 shares changing hands.

American Superconductor Trading Up 0.4%

The firm has a 50-day moving average of $23.39 and a 200-day moving average of $24.68. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 419.35 and a beta of 2.87.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. The firm had revenue of $66.66 million for the quarter, compared to the consensus estimate of $60.27 million. The firm's revenue was up 58.6% on a year-over-year basis. On average, equities research analysts anticipate that American Superconductor Co. will post 0.41 EPS for the current year.

Insiders Place Their Bets

In other news, CFO John W. Kosiba, Jr. sold 4,744 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $31.83, for a total transaction of $151,001.52. Following the sale, the chief financial officer now directly owns 409,532 shares in the company, valued at $13,035,403.56. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel P. Mcgahn sold 122,655 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $26.39, for a total value of $3,236,865.45. Following the sale, the chief executive officer now owns 1,304,486 shares in the company, valued at $34,425,385.54. This trade represents a 8.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,088 shares of company stock valued at $4,952,531. Company insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On American Superconductor

Several institutional investors have recently bought and sold shares of the company. Atreides Management LP purchased a new position in American Superconductor in the 1st quarter worth approximately $14,948,000. Nuveen LLC purchased a new position in American Superconductor in the 1st quarter worth approximately $14,123,000. Wellington Management Group LLP purchased a new position in American Superconductor in the 4th quarter worth approximately $11,360,000. Raymond James Financial Inc. purchased a new position in American Superconductor in the 4th quarter worth approximately $10,188,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in American Superconductor in the 4th quarter worth approximately $7,310,000. 52.28% of the stock is currently 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.