Wall Street Zen Upgrades American Superconductor (NASDAQ:AMSC) to "Buy"

Wall Street Zen upgraded shares of American Superconductor (NASDAQ:AMSC - Free Report) from a hold rating to a buy rating in a research note published on Sunday morning.

American Superconductor Trading Up 8.8%

Shares of NASDAQ:AMSC traded up $3.18 during midday trading on Friday, reaching $39.16. 1,227,222 shares of the company were exchanged, compared to its average volume of 1,123,263. The stock has a market cap of $1.55 billion, a PE ratio of 261.07 and a beta of 2.91. American Superconductor has a one year low of $13.98 and a one year high of $39.65. The business's fifty day moving average is $27.01 and its two-hundred day moving average is $24.85.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $60.27 million. American Superconductor had a return on equity of 8.89% and a net margin of 2.71%. The company's revenue was up 58.6% on a year-over-year basis. As a group, sell-side analysts expect that American Superconductor will post 0.41 EPS for the current year.

Insider Activity

In related news, CEO Daniel P. Mcgahn sold 122,655 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of the business's stock in a transaction 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 transaction, the chief financial officer owned 414,276 shares in the company, valued at $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. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Gen Wealth Partners Inc bought a new stake in American Superconductor during the 4th quarter valued at about $58,000. SBI Securities Co. Ltd. purchased a new position in American Superconductor during the 4th quarter valued at about $65,000. Jones Financial Companies Lllp raised its holdings in shares of American Superconductor by 1,083.2% in the 4th 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 in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of American Superconductor by 8,670.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company's stock valued at $73,000 after acquiring an additional 2,948 shares during the period. Finally, CWM LLC raised its holdings in American Superconductor by 49.5% in the first quarter. CWM LLC now owns 7,915 shares of the technology company's stock worth $144,000 after purchasing an additional 2,622 shares in the last quarter. Hedge funds and other institutional investors 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.