Traders Buy High Volume of Put Options on American Superconductor (NASDAQ:AMSC)

American Superconductor Co. (NASDAQ:AMSC - Get Free Report) saw unusually large options trading on Wednesday. Investors acquired 4,049 put options on the stock. This is an increase of approximately 153% compared to the average volume of 1,602 put options.

Insider Transactions at American Superconductor

In other news, CEO Daniel P. Mcgahn sold 7,689 shares of American Superconductor stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $31.82, for a total transaction of $244,663.98. Following the sale, the chief executive officer now owns 1,296,797 shares of the company's stock, valued at approximately $41,264,080.54. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of American Superconductor stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $31.83, for a total value of $151,001.52. Following the sale, the chief financial officer now directly owns 409,532 shares in the company, valued at $13,035,403.56. The trade was a 1.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,088 shares of company stock valued at $4,952,531. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Superconductor

Several institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its position in shares of American Superconductor by 1.2% during the fourth quarter. Rhumbline Advisers now owns 51,119 shares of the technology company's stock worth $1,259,000 after acquiring an additional 606 shares during the last quarter. Quantum Private Wealth LLC acquired a new position in American Superconductor in the fourth quarter valued at about $281,000. Nkcfo LLC bought a new stake in shares of American Superconductor in the fourth quarter valued at about $1,158,000. Truist Financial Corp acquired a new position in American Superconductor during the fourth quarter valued at approximately $251,000. Finally, Atria Wealth Solutions Inc. boosted its position in American Superconductor by 4.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 12,475 shares of the technology company's stock valued at $307,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 52.28% of the company's stock.

American Superconductor Price Performance

Shares of American Superconductor stock traded up $0.12 during midday trading on Friday, hitting $29.35. 1,830,277 shares of the company were exchanged, compared to its average volume of 1,139,641. The firm has a market cap of $1.16 billion, a P/E ratio of 419.35 and a beta of 2.87. American Superconductor has a 52 week low of $13.98 and a 52 week high of $38.02. The firm has a 50 day simple moving average of $23.39 and a 200-day simple moving average of $24.68.

American Superconductor (NASDAQ:AMSC - Get Free Report) last posted its earnings results on Wednesday, May 21st. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate 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 8.95% and a net margin of 1.64%. The business's revenue for the quarter was up 58.6% compared to the same quarter last year. Equities research analysts expect that American Superconductor will post 0.41 earnings per share for the current year.

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.