American Superconductor (NASDAQ:AMSC) Stock Price Down 10%


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American Superconductor Co. (NASDAQ:AMSC)’s share price was down 10% on Wednesday . The company traded as low as $25.80 and last traded at $25.89. Approximately 657,229 shares were traded during trading, an increase of 16% from the average daily volume of 564,866 shares. The stock had previously closed at $28.78.

Several analysts have issued reports on AMSC shares. Zacks Investment Research cut shares of American Superconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 10th. Canaccord Genuity lowered American Superconductor from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Friday, November 6th. ValuEngine lowered American Superconductor from a “buy” rating to a “hold” rating in a research note on Wednesday, January 6th. BidaskClub raised American Superconductor from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 7th. Finally, Craig Hallum boosted their price objective on American Superconductor from $15.00 to $21.00 in a report on Wednesday, October 7th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $18.40.

The stock has a market capitalization of $714.64 million, a PE ratio of -27.25 and a beta of 1.26. The business has a fifty day moving average price of $22.74 and a 200-day moving average price of $15.15.

American Superconductor (NASDAQ:AMSC) last issued its earnings results on Monday, November 9th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. The business had revenue of $21.12 million during the quarter, compared to analyst estimates of $21.00 million. American Superconductor had a negative return on equity of 27.88% and a negative net margin of 25.34%. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. As a group, equities analysts expect that American Superconductor Co. will post -0.75 EPS for the current year.

In other news, CFO John W. Kosiba, Jr. sold 25,000 shares of American Superconductor stock in a transaction dated Wednesday, November 25th. The stock was sold at an average price of $19.28, for a total value of $482,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. ArrowMark Colorado Holdings LLC bought a new stake in American Superconductor during the 3rd quarter valued at $3,186,000. Arrowstreet Capital Limited Partnership raised its stake in shares of American Superconductor by 251.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 258,550 shares of the technology company’s stock valued at $3,744,000 after acquiring an additional 185,049 shares during the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in shares of American Superconductor during the third quarter worth about $641,000. First Trust Advisors LP increased its holdings in American Superconductor by 49.0% during the 3rd quarter. First Trust Advisors LP now owns 96,176 shares of the technology company’s stock valued at $1,393,000 after purchasing an additional 31,647 shares during the period. Finally, Alps Advisors Inc. raised its position in American Superconductor by 36.6% during the 3rd quarter. Alps Advisors Inc. now owns 101,682 shares of the technology company’s stock valued at $1,472,000 after purchasing an additional 27,231 shares during the last quarter. 48.83% of the stock is currently owned by institutional investors.

About American Superconductor (NASDAQ:AMSC)

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Wind and Grid. The Wind segment designs wind turbine systems and licenses these designs to third parties under the Windtec Solutions brand.

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