American Superconductor (NASDAQ:AMSC) Price Target Raised to $29.00 at Roth Mkm

American Superconductor (NASDAQ:AMSC) had its price objective increased by Roth Mkm from $27.00 to $29.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Separately, Oppenheimer lifted their price objective on shares of American Superconductor from $16.00 to $23.00 and gave the stock an outperform rating in a report on Friday, May 31st.

American Superconductor Trading Down 1.7 %

Shares of NASDAQ:AMSC opened at $19.98 on Thursday. The company has a fifty day simple moving average of $24.62 and a 200 day simple moving average of $17.34. The firm has a market cap of $739.22 million, a PE ratio of -51.23 and a beta of 2.17. American Superconductor has a 12-month low of $5.78 and a 12-month high of $32.70.

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

Insiders Place Their Bets

In other news, CFO John W. Kosiba, Jr. sold 29,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $429,780.00. Following the completion of the transaction, the chief financial officer now owns 348,136 shares of the company’s stock, valued at $5,159,375.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO John W. Kosiba, Jr. sold 29,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $429,780.00. Following the completion of the transaction, the chief financial officer now owns 348,136 shares of the company’s stock, valued at $5,159,375.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel P. Mcgahn sold 37,165 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total transaction of $806,108.85. Following the transaction, the chief executive officer now directly owns 1,019,956 shares of the company’s stock, valued at approximately $22,122,845.64. 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 90 days. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On American Superconductor

Several hedge funds and other institutional investors have recently modified their holdings of AMSC. Baillie Gifford & Co. raised its stake in shares of American Superconductor by 39.9% during the fourth quarter. Baillie Gifford & Co. now owns 2,086,279 shares of the technology company’s stock valued at $23,241,000 after purchasing an additional 594,909 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of American Superconductor during the fourth quarter valued at about $293,000. Atria Wealth Solutions Inc. raised its stake in shares of American Superconductor by 18.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 14,469 shares of the technology company’s stock valued at $161,000 after purchasing an additional 2,294 shares in the last quarter. Bailard Inc. bought a new stake in shares of American Superconductor during the fourth quarter valued at about $247,000. Finally, Merit Financial Group LLC raised its stake in shares of American Superconductor by 5.8% during 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. Institutional investors and hedge funds own 52.28% of the company’s stock.

American Superconductor Company Profile

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.