American Superconductor Corporation (NASDAQ:AMSC) CEO Daniel P. Mcgahn Sells 100,848 Shares

Key Points

• CEO Daniel P. Mcgahn sold 100,848 shares of American Superconductor Corporation, realizing over $5.49 million, which resulted in a 7.85% decrease in his ownership stake.
• American Superconductor reported a 58.6% increase in revenue year-over-year, with earnings per share (EPS) of $0.12, exceeding analyst expectations.
• Institutional ownership of the company stands at 52.28%, with several hedge funds increasing their stakes recently.

American Superconductor Corporation (NASDAQ:AMSC - Get Free Report) CEO Daniel P. Mcgahn sold 100,848 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $54.49, for a total value of $5,495,207.52. Following the sale, the chief executive officer directly owned 1,183,134 shares of the company's stock, valued at $64,468,971.66. This represents a 7.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

American Superconductor Price Performance

Shares of NASDAQ AMSC traded down $3.31 during mid-day trading on Friday, reaching $50.99. 1,244,161 shares of the company's stock traded hands, compared to its average volume of 1,275,581. The stock has a market cap of $2.30 billion, a P/E ratio of 130.75 and a beta of 2.95. The business has a 50-day simple moving average of $39.10 and a 200 day simple moving average of $28.37. American Superconductor Corporation has a 1-year low of $13.98 and a 1-year high of $58.42.

American Superconductor (NASDAQ:AMSC - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $66.66 million during the quarter, compared to the consensus estimate of $60.27 million. American Superconductor had a return on equity of 9.35% and a net margin of 6.00%. The company's revenue for the quarter was up 58.6% compared to the same quarter last year. Equities research analysts anticipate that American Superconductor Corporation will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC purchased a new position in American Superconductor during the 4th quarter worth $292,000. American Century Companies Inc. purchased a new position in American Superconductor during the fourth quarter worth about $320,000. KLP Kapitalforvaltning AS purchased a new position in American Superconductor during the fourth quarter worth about $170,000. LPL Financial LLC boosted its holdings in American Superconductor by 332.0% during the fourth quarter. LPL Financial LLC now owns 58,534 shares of the technology company's stock worth $1,442,000 after purchasing an additional 44,985 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of American Superconductor by 7.1% in the 4th quarter. JPMorgan Chase & Co. now owns 50,012 shares of the technology company's stock worth $1,232,000 after buying an additional 3,295 shares during the last quarter. Hedge funds and other institutional investors own 52.28% of the company's stock.

Analysts Set New Price Targets

AMSC has been the subject of a number of research reports. Wall Street Zen upgraded shares of American Superconductor from a "hold" rating to a "buy" rating in a report on Tuesday, July 15th. Oppenheimer reissued an "outperform" rating on shares of American Superconductor in a research note on Thursday, July 31st.

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.