American Superconductor Corporation (NASDAQ:AMSC) Sees Large Drop in Short Interest

Key Points

• Short interest in American Superconductor has decreased by 23.3%, totaling 2,370,000 shares as of July 31, with a short-interest ratio of 1.9 days.
• Analysts have raised their outlook on American Superconductor, with a consensus rating of "Buy" and a target price of $33.67.
• Company insiders have sold 295,639 shares over the last quarter, representing a decrease in their ownership stakes.

American Superconductor Corporation (NASDAQ:AMSC - Get Free Report) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 2,370,000 shares, adeclineof23.3% from the July 15th total of 3,090,000 shares. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is presently 1.9 days. Approximately5.5% of the shares of the company are short sold. Approximately5.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is presently 1.9 days.

Insider Activity

In other news, Director Arthur H. House sold 9,703 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $50.92, for a total value of $494,076.76. Following the sale, the director owned 48,663 shares in the company, valued at approximately $2,477,919.96. The trade was a 16.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel P. Mcgahn sold 100,848 shares of American Superconductor stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $54.49, for a total value of $5,495,207.52. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 295,639 shares of company stock worth $10,941,815. Corporate insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On American Superconductor

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of American Superconductor by 104.7% in the second quarter. GAMMA Investing LLC now owns 954 shares of the technology company's stock valued at $35,000 after acquiring an additional 488 shares during the period. Virtus Advisers LLC bought a new stake in shares of American Superconductor in the second quarter valued at about $69,000. Canada Pension Plan Investment Board boosted its position in shares of American Superconductor by 100.0% in the second quarter. Canada Pension Plan Investment Board now owns 2,000 shares of the technology company's stock valued at $73,000 after acquiring an additional 1,000 shares during the period. Gen Wealth Partners Inc bought a new stake in shares of American Superconductor in the fourth quarter valued at about $58,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of American Superconductor in the second quarter valued at about $96,000. Institutional investors own 52.28% of the company's stock.

Wall Street Analyst Weigh In

AMSC has been the subject of several research reports. Wall Street Zen raised shares of American Superconductor from a "hold" rating to a "buy" rating in a research note on Tuesday, July 15th. Oppenheimer reissued an "outperform" rating on shares of American Superconductor in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, American Superconductor presently has an average rating of "Buy" and an average price target of $33.67.

American Superconductor Price Performance

AMSC stock traded down $0.49 during midday trading on Monday, reaching $50.19. 285,383 shares of the company were exchanged, compared to its average volume of 1,040,740. The business has a 50-day moving average price of $43.26 and a two-hundred day moving average price of $30.07. American Superconductor has a one year low of $13.98 and a one year high of $58.42. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 128.84 and a beta of 2.95.

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.