American Superconductor (NASDAQ:AMSC) Stock Passes Above 200 Day Moving Average - Here's What Happened

American Superconductor Corporation (NASDAQ:AMSC - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.67 and traded as high as $31.12. American Superconductor shares last traded at $30.83, with a volume of 1,113,135 shares trading hands.

American Superconductor Stock Up 3.2%

The firm has a market capitalization of $1.22 billion, a P/E ratio of 205.53 and a beta of 2.87. The business's 50 day moving average is $24.13 and its two-hundred day moving average is $24.67.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its earnings results on Wednesday, May 21st. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $66.66 million for 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 business's revenue was up 58.6% on a year-over-year basis. As a group, equities analysts anticipate that American Superconductor Corporation will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at American Superconductor

In related news, CEO Daniel P. Mcgahn sold 7,689 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $31.82, for a total value of $244,663.98. Following the sale, the chief executive officer now directly owns 1,296,797 shares in the company, valued at $41,264,080.54. The trade was a 0.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $26.40, for a total transaction of $1,320,000.00. Following the sale, the chief financial officer now directly owns 414,276 shares of the company's stock, valued at approximately $10,936,886.40. This represents a 10.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,088 shares of company stock valued at $4,952,531. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Gen Wealth Partners Inc acquired a new stake in shares of American Superconductor during the 4th quarter valued at $58,000. SBI Securities Co. Ltd. acquired a new stake in shares of American Superconductor during the fourth quarter worth $65,000. Jones Financial Companies Lllp lifted its holdings in shares of American Superconductor by 1,083.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company's stock valued at $73,000 after purchasing an additional 2,708 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of American Superconductor by 8,670.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company's stock valued at $73,000 after purchasing an additional 2,948 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of American Superconductor in the 4th quarter valued at $170,000. Institutional investors and hedge funds own 52.28% of the company's stock.

American Superconductor Company Profile

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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