American Superconductor (NASDAQ:AMSC) Stock Price Up 3.6%

American Superconductor Co. (NASDAQ:AMSC) shares shot up 3.6% on Monday . The company traded as high as $20.88 and last traded at $20.70. 43,433 shares changed hands during trading, a decline of 96% from the average session volume of 978,157 shares. The stock had previously closed at $19.98.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Oppenheimer lifted their price objective on American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Roth Mkm boosted their price target on American Superconductor from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 8th.

American Superconductor Trading Up 5.6 %

The company’s 50 day simple moving average is $24.59 and its 200-day simple moving average is $17.43. The company has a market capitalization of $806.93 million, a price-to-earnings ratio of -52.97 and a beta of 2.17.

American Superconductor (NASDAQ:AMSC) last announced its earnings results on Wednesday, May 29th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The firm had revenue of $42.03 million for the quarter, compared to analyst estimates of $36.75 million. American Superconductor had a negative net margin of 7.63% and a negative return on equity of 4.26%. Sell-side analysts anticipate that American Superconductor Co. will post -0.04 EPS for the current year.

Insider Activity

In other news, CEO Daniel P. Mcgahn sold 20,559 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $304,684.38. Following the completion of the transaction, the chief executive officer now owns 1,057,121 shares of the company’s stock, valued at approximately $15,666,533.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO John W. Kosiba, Jr. sold 32,000 shares of American Superconductor stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $21.68, for a total value of $693,760.00. Following the transaction, the chief financial officer now owns 316,136 shares in the company, valued at $6,853,828.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel P. Mcgahn sold 20,559 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total value of $304,684.38. Following the sale, the chief executive officer now owns 1,057,121 shares of the company’s stock, valued at $15,666,533.22. The disclosure for this sale can be found here. Insiders sold a total of 118,724 shares of company stock valued at $2,234,333 over the last quarter. Company insiders own 4.40% of the company’s stock.

Institutional Trading of American Superconductor

A number of hedge funds have recently made changes to their positions in AMSC. Amalgamated Bank acquired a new position in shares of American Superconductor in the second quarter worth about $28,000. Psagot Value Holdings Ltd. Israel acquired a new stake in American Superconductor in the fourth quarter valued at $33,000. nVerses Capital LLC bought a new position in American Superconductor during the 2nd quarter valued at $42,000. AJOVista LLC acquired a new position in American Superconductor during the 4th quarter worth $69,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of American Superconductor in the 2nd quarter worth about $96,000. Hedge funds and other institutional investors own 52.28% of the company’s stock.

About American Superconductor

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind. 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; and engineering planning services.