American Superconductor (NASDAQ:AMSC) Stock Price Up 7.5% - Here's Why

American Superconductor Corporation (NASDAQ:AMSC - Get Free Report)'s stock price rose 7.5% during trading on Wednesday . The stock traded as high as $37.49 and last traded at $38.66. Approximately 127,354 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,119,289 shares. The stock had previously closed at $35.98.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded American Superconductor from a "hold" rating to a "buy" rating in a report on Sunday, June 29th.

American Superconductor Trading Up 0.7%

The business's fifty day simple moving average is $28.19 and its two-hundred day simple moving average is $25.14. The stock has a market capitalization of $1.56 billion, a P/E ratio of 263.09 and a beta of 2.91.

American Superconductor (NASDAQ:AMSC - Get Free Report) last announced its earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $66.66 million during the quarter, compared to analysts' expectations of $60.27 million. American Superconductor had a net margin of 2.71% and a return on equity of 8.89%. The company's revenue for the quarter was up 58.6% compared to the same quarter last year. On average, equities research analysts anticipate that American Superconductor Corporation will post 0.41 earnings per share for the current year.

Insider Activity

In other news, CEO Daniel P. Mcgahn sold 122,655 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $26.39, for a total transaction of $3,236,865.45. Following the completion of the sale, the chief executive officer owned 1,304,486 shares of the company's stock, valued at $34,425,385.54. This represents a 8.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of American Superconductor stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $26.40, for a total value of $1,320,000.00. Following the completion of the sale, the chief financial officer directly owned 414,276 shares in the company, valued at $10,936,886.40. This represents a 10.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,088 shares of company stock worth $4,952,531 in the last ninety days. Insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On American Superconductor

Several large investors have recently made changes to their positions in the stock. Voya Investment Management LLC raised its stake in American Superconductor by 81.0% in the first quarter. Voya Investment Management LLC now owns 19,199 shares of the technology company's stock valued at $348,000 after buying an additional 8,594 shares during the period. Inspire Investing LLC bought a new stake in shares of American Superconductor in the first quarter valued at approximately $699,000. Strs Ohio acquired a new stake in shares of American Superconductor during the 1st quarter worth $379,000. Goldman Sachs Group Inc. increased its position 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 worth $8,743,000 after purchasing an additional 170,243 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in 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 purchasing an additional 97,036 shares in the last quarter. Institutional investors and hedge funds own 52.28% of the company's stock.

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.