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

American Superconductor (NASDAQ:AMSC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.

American Superconductor Stock Performance

Shares of American Superconductor stock traded up $1.26 during trading hours on Tuesday, reaching $42.64. The company's stock had a trading volume of 808,971 shares, compared to its average volume of 1,099,668. American Superconductor has a one year low of $13.98 and a one year high of $43.41. The company has a market capitalization of $1.68 billion, a P/E ratio of 284.90 and a beta of 2.91. The stock's fifty day simple moving average is $31.73 and its two-hundred day simple moving average is $26.08.

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 for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The firm had revenue of $66.66 million for the quarter, compared to analyst estimates of $60.27 million. American Superconductor had a net margin of 2.71% and a return on equity of 8.89%. American Superconductor's revenue for the quarter was up 58.6% compared to the same quarter last year. As a group, research analysts forecast that American Superconductor will post 0.41 earnings per share for the current year.

Insider Activity

In related news, CFO John W. Kosiba, Jr. sold 4,744 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $31.83, for a total transaction of $151,001.52. Following the completion of the sale, the chief financial officer owned 409,532 shares in the company, valued at approximately $13,035,403.56. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel P. Mcgahn sold 7,689 shares of the firm's stock in a transaction dated 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 owned 1,296,797 shares of the company's stock, valued at $41,264,080.54. This trade represents a 0.59% 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 corporate insiders.

Hedge Funds Weigh In On American Superconductor

A number of large investors have recently modified their holdings of AMSC. Atreides Management LP bought a new position in shares of American Superconductor in the first quarter valued at approximately $14,948,000. Nuveen LLC bought a new position in shares of American Superconductor in the first quarter valued at approximately $14,123,000. Wellington Management Group LLP bought a new stake in American Superconductor during the fourth quarter valued at approximately $11,360,000. Raymond James Financial Inc. bought a new stake in American Superconductor during the fourth quarter valued at approximately $10,188,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in American Superconductor during the fourth quarter valued at approximately $7,310,000. 52.28% of the stock is currently owned by institutional investors.

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.