American Superconductor (NASDAQ:AMSC) Trading Down 8.5% – Time to Sell?

American Superconductor Corporation (NASDAQ:AMSC) shares fell 8.5% during mid-day trading on Monday . The stock traded as low as $49.53 and last traded at $50.3990. 523,683 shares changed hands during trading, a decline of 55% from the average session volume of 1,152,816 shares. The stock had previously closed at $55.06.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMSC shares. Zacks Research downgraded shares of American Superconductor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Weiss Ratings upgraded shares of American Superconductor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

American Superconductor Stock Performance

The stock has a market cap of $2.35 billion, a PE ratio of 16.87 and a beta of 3.28. The company has a quick ratio of 1.80, a current ratio of 2.66 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $39.46 and a 200 day moving average of $35.89.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMSC. Royal Bank of Canada boosted its position in shares of American Superconductor by 27.5% during the 1st quarter. Royal Bank of Canada now owns 26,190 shares of the technology company’s stock valued at $475,000 after acquiring an additional 5,647 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in American Superconductor by 13.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,295 shares of the technology company’s stock worth $459,000 after purchasing an additional 2,989 shares during the last quarter. Millennium Management LLC raised its stake in American Superconductor by 878.5% during the first quarter. Millennium Management LLC now owns 225,682 shares of the technology company’s stock worth $4,094,000 after purchasing an additional 202,617 shares during the period. Goldman Sachs Group Inc. boosted its holdings in American Superconductor by 54.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 481,961 shares of the technology company’s stock valued at $8,743,000 after purchasing an additional 170,243 shares during the last quarter. Finally, Creative Planning acquired a new position in American Superconductor in the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 52.28% of the company’s stock.

About American Superconductor

American Superconductor Corporation (NASDAQ:AMSC) is a technology company specializing in power electronics and high-temperature superconductor systems. Founded in 1987 and headquartered in Devens, Massachusetts, AMSC develops hardware and software solutions aimed at improving the efficiency, reliability and stability of electric power systems and renewable energy infrastructure. The company’s engineering expertise spans from the lab scale to full commercial deployment, with a focus on tackling grid integration challenges for utilities and independent power producers.

AMSC’s portfolio includes superconducting wire and cryogenic systems, power grid stabilization devices, and turnkey wind turbine electronics.