American Superconductor (NASDAQ:AMSC) Trading 4.1% Higher

American Superconductor Co. (NASDAQ:AMSC)’s stock price shot up 4.1% during trading on Tuesday . The stock traded as high as $29.99 and last traded at $29.70. 323,240 shares traded hands during trading, a decline of 67% from the average session volume of 974,160 shares. The stock had previously closed at $28.53.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMSC. Oppenheimer boosted their price target on American Superconductor from $16.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Roth Mkm upped their target price on American Superconductor from $20.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, June 13th.

American Superconductor Stock Performance

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -77.44 and a beta of 2.17. The firm’s 50-day moving average price is $22.55 and its two-hundred day moving average price is $16.08.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. American Superconductor had a negative return on equity of 4.26% and a negative net margin of 7.63%. The company had revenue of $42.03 million for the quarter, compared to the consensus estimate of $36.75 million. As a group, equities research analysts anticipate that American Superconductor Co. will post -0.04 EPS for the current year.

Insider Buying and Selling at American Superconductor

In other American Superconductor news, CEO Daniel P. Mcgahn sold 20,559 shares of American Superconductor stock in a transaction on Tuesday, May 21st. The stock was 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 directly owns 1,057,121 shares of the company’s stock, valued at $15,666,533.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Daniel P. Mcgahn sold 20,559 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,057,121 shares of the company’s stock, valued at $15,666,533.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John W. Kosiba, Jr. sold 29,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total value of $429,780.00. Following the completion of the transaction, the chief financial officer now directly owns 348,136 shares in the company, valued at $5,159,375.52. The disclosure for this sale can be found here. Insiders have sold 118,724 shares of company stock worth $2,234,333 over the last three months. Company insiders own 4.40% of the company’s stock.

Institutional Trading of American Superconductor

Large investors have recently made changes to their positions in the business. Atria Wealth Solutions Inc. lifted its position in American Superconductor by 18.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 14,469 shares of the technology company’s stock worth $161,000 after buying an additional 2,294 shares in the last quarter. Psagot Value Holdings Ltd. Israel bought a new stake in shares of American Superconductor during the fourth quarter valued at approximately $33,000. Merit Financial Group LLC increased its holdings in shares of American Superconductor by 5.8% in the fourth quarter. Merit Financial Group LLC now owns 82,389 shares of the technology company’s stock valued at $918,000 after purchasing an additional 4,490 shares in the last quarter. AJOVista LLC bought a new position in American Superconductor in the 4th quarter worth approximately $69,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in American Superconductor by 36.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 38,318 shares of the technology company’s stock worth $518,000 after buying an additional 10,197 shares in the last quarter. 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.