American Superconductor (NASDAQ:AMSC) Trading Down 8.5% – Should You Sell?

by · The Markets Daily

American Superconductor Co. (NASDAQ:AMSC – Get Free Report)’s stock price traded down 8.5% during trading on Thursday . The stock traded as low as $21.60 and last traded at $21.71. 235,649 shares were traded during trading, a decline of 76% from the average session volume of 974,111 shares. The stock had previously closed at $23.72.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMSC shares. Roth Mkm restated a “buy” rating and issued a $29.00 price target on shares of American Superconductor in a report on Monday, September 30th. Craig Hallum reissued a “buy” rating and set a $33.00 target price on shares of American Superconductor in a research report on Tuesday, September 10th.

Read Our Latest Research Report on AMSC

American Superconductor Price Performance

The stock has a 50-day moving average price of $21.29 and a 200-day moving average price of $19.87. The firm has a market capitalization of $887.95 million, a PE ratio of -61.54 and a beta of 2.14.

American Superconductor (NASDAQ:AMSC – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. The firm had revenue of $40.29 million during the quarter, compared to analyst estimates of $39.55 million. As a group, equities research analysts predict that American Superconductor Co. will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of American Superconductor

Several institutional investors have recently added to or reduced their stakes in AMSC. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of American Superconductor by 2.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 39,146 shares of the technology company’s stock worth $916,000 after purchasing an additional 828 shares during the last quarter. Amalgamated Bank acquired a new position in American Superconductor in the second quarter worth about $28,000. nVerses Capital LLC acquired a new position in American Superconductor in the second quarter worth about $42,000. CWM LLC bought a new stake in American Superconductor in the third quarter valued at about $57,000. Finally, Canada Pension Plan Investment Board acquired a new stake in American Superconductor during the second quarter valued at approximately $96,000. 52.28% of the stock is owned by institutional investors and hedge funds.

American Superconductor Company Profile

(Get Free Report)

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.

See Also