Investors Buy Large Volume of Put Options on American Superconductor (NASDAQ:AMSC)

American Superconductor Co. (NASDAQ:AMSC - Get Free Report) saw unusually large options trading on Wednesday. Stock investors bought 4,049 put options on the company. This represents an increase of 153% compared to the typical volume of 1,602 put options.

American Superconductor Stock Performance

Shares of AMSC traded up $0.09 during trading hours on Thursday, reaching $29.76. 1,220,005 shares of the company traded hands, compared to its average volume of 1,142,471. The stock's fifty day moving average is $22.87 and its 200 day moving average is $24.80. The stock has a market cap of $1.18 billion, a P/E ratio of 425.20 and a beta of 2.87. American Superconductor has a 1-year low of $13.98 and a 1-year high of $38.02.

American Superconductor (NASDAQ:AMSC - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations of $60.27 million. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. The company's revenue for the quarter was up 58.6% on a year-over-year basis. On average, equities research analysts predict that American Superconductor will post 0.41 EPS for the current year.

Insider Transactions at American Superconductor

In related news, CEO Daniel P. Mcgahn sold 7,689 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $31.82, for a total transaction of $244,663.98. Following the completion of the transaction, the chief executive officer now directly owns 1,296,797 shares in the company, valued at $41,264,080.54. This represents 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 company's stock in a transaction dated 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 now directly owns 414,276 shares of the company's stock, 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 over the last three months. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC acquired a new position in American Superconductor in the first quarter worth about $699,000. Strs Ohio acquired a new position in shares of American Superconductor in the 1st quarter worth approximately $379,000. Goldman Sachs Group Inc. raised its holdings in shares of American Superconductor by 54.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 481,961 shares of the technology company's stock worth $8,743,000 after buying an additional 170,243 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of American Superconductor by 3,280.5% in the 1st quarter. Jones Financial Companies Lllp now owns 99,994 shares of the technology company's stock worth $1,814,000 after buying an additional 97,036 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of American Superconductor by 878.5% in the 1st quarter. Millennium Management LLC now owns 225,682 shares of the technology company's stock worth $4,094,000 after buying an additional 202,617 shares in the last quarter. 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.