American Superconductor Corporation (NASDAQ:AMSC - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $43.94, but opened at $47.80. American Superconductor shares last traded at $54.13, with a volume of 1,284,258 shares traded.
Analysts Set New Price Targets
Several research firms have weighed in on AMSC. Wall Street Zen upgraded American Superconductor from a "hold" rating to a "buy" rating in a report on Tuesday, July 15th. Oppenheimer reaffirmed an "outperform" rating on shares of American Superconductor in a report on Thursday.
Read Our Latest Stock Analysis on AMSC
American Superconductor Stock Performance
The firm has a market capitalization of $2.53 billion, a PE ratio of 143.47 and a beta of 2.95. The company has a fifty day moving average price of $36.41 and a 200-day moving average price of $27.46.
American Superconductor (NASDAQ:AMSC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $66.66 million for the quarter, compared to analysts' expectations of $60.27 million. American Superconductor had a return on equity of 9.35% and a net margin of 6.00%. The firm's revenue for the quarter was up 58.6% compared to the same quarter last year. On average, equities analysts predict that American Superconductor Corporation will post 0.41 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Daniel P. Mcgahn sold 122,655 shares of American Superconductor stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $26.39, for a total value of $3,236,865.45. Following the completion of the transaction, the chief executive officer owned 1,304,486 shares in the company, valued at approximately $34,425,385.54. The trade was a 8.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of American Superconductor stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $26.40, for a total value of $1,320,000.00. Following the completion of the transaction, the chief financial officer owned 414,276 shares of the company's stock, valued at approximately $10,936,886.40. This trade represents a 10.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,088 shares of company stock valued at $4,952,531. Company insiders own 4.80% of the company's stock.
Hedge Funds Weigh In On American Superconductor
A number of institutional investors and hedge funds have recently modified their holdings of AMSC. GAMMA Investing LLC boosted its holdings in shares of 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 purchasing an additional 488 shares during the period. Gen Wealth Partners Inc purchased a new position in American Superconductor during the 4th quarter valued at $58,000. CWM LLC grew its position in American Superconductor by 49.5% in the 1st quarter. CWM LLC now owns 7,915 shares of the technology company's stock valued at $144,000 after acquiring an additional 2,622 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in American Superconductor in the 4th quarter valued at $170,000. Finally, National Bank of Canada FI grew its position in American Superconductor by 27.9% in the 1st quarter. National Bank of Canada FI now owns 9,506 shares of the technology company's stock valued at $172,000 after acquiring an additional 2,072 shares during the last quarter. Hedge funds and other institutional investors own 52.28% of the company's stock.
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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