American Superconductor Co. (NASDAQ:AMSC - Get Free Report) shares 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 Price Performance
The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 419.35 and a beta of 2.87. The business has a fifty day moving average of $23.39 and a 200 day moving average of $24.73.
American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The technology company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. The company had revenue of $66.66 million for the quarter, compared to analysts' expectations of $60.27 million. The firm's revenue for the quarter was up 58.6% compared to the same quarter last year. On average, equities research analysts expect that American Superconductor Co. will post 0.41 EPS for the current year.
Insiders Place Their Bets
In other American Superconductor news, CFO John W. Kosiba, Jr. sold 4,744 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $31.83, for a total transaction of $151,001.52. Following the transaction, the chief financial officer now directly owns 409,532 shares in the company, valued at $13,035,403.56. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel P. Mcgahn sold 7,689 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $31.82, for a total value of $244,663.98. Following the transaction, the chief executive officer now owns 1,296,797 shares in the company, valued at $41,264,080.54. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,088 shares of company stock worth $4,952,531 over the last ninety days. Corporate insiders own 4.40% of the company's stock.
Institutional Trading of American Superconductor
Several hedge funds have recently modified their holdings of the stock. Inspire Investing LLC acquired a new stake in shares of American Superconductor in the first quarter valued at $699,000. Strs Ohio acquired a new stake in shares of American Superconductor in the first quarter valued at $379,000. Goldman Sachs Group Inc. raised its stake in shares of American Superconductor by 54.6% in the first quarter. Goldman Sachs Group Inc. now owns 481,961 shares of the technology company's stock valued at $8,743,000 after acquiring an additional 170,243 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of American Superconductor by 3,280.5% in the first quarter. Jones Financial Companies Lllp now owns 99,994 shares of the technology company's stock valued at $1,814,000 after acquiring an additional 97,036 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of American Superconductor by 878.5% in the first quarter. Millennium Management LLC now owns 225,682 shares of the technology company's stock valued at $4,094,000 after acquiring an additional 202,617 shares in the last quarter. 52.28% of the stock is currently owned by institutional investors and hedge funds.
About American Superconductor
(
Get Free Report)
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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