American Superconductor (AMSC) Stock Price Down 5.7%

American Superconductor Co. (NASDAQ:AMSC) shares dropped 5.7% during mid-day trading on Friday . The company traded as low as $12.11 and last traded at $12.14. Approximately 530,449 shares changed hands during trading, an increase of 41% from the average daily volume of 376,644 shares. The stock had previously closed at $12.88.

AMSC has been the topic of a number of research analyst reports. Zacks Investment Research raised American Superconductor from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Wednesday, January 16th. B. Riley upped their price target on American Superconductor to $11.00 and gave the company a “neutral” rating in a report on Friday, January 25th. Oppenheimer upped their price target on American Superconductor from $10.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, February 7th. Finally, BidaskClub downgraded American Superconductor from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 16th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $14.20.

The firm has a market cap of $275.89 million, a PE ratio of -6.60 and a beta of 1.15.

American Superconductor (NASDAQ:AMSC) last posted its quarterly earnings data on Tuesday, February 5th. The technology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.18. The company had revenue of $14.13 million during the quarter, compared to analysts’ expectations of $15.13 million. American Superconductor had a negative return on equity of 25.54% and a net margin of 52.83%. Research analysts forecast that American Superconductor Co. will post -0.8 EPS for the current fiscal year.

In related news, CFO John W. Kosiba, Jr. sold 12,374 shares of the company’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $10.31, for a total transaction of $127,575.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Worth Venture Partners LLC increased its position in American Superconductor by 76.8% during the fourth quarter. Worth Venture Partners LLC now owns 168,000 shares of the technology company’s stock valued at $1,873,000 after acquiring an additional 73,000 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in American Superconductor by 231.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 261,852 shares of the technology company’s stock valued at $2,919,000 after acquiring an additional 182,795 shares during the last quarter. Royce & Associates LP increased its position in American Superconductor by 25.5% during the fourth quarter. Royce & Associates LP now owns 571,874 shares of the technology company’s stock valued at $6,376,000 after acquiring an additional 116,374 shares during the last quarter. Raymond James & Associates increased its position in American Superconductor by 28.7% during the fourth quarter. Raymond James & Associates now owns 19,333 shares of the technology company’s stock valued at $216,000 after acquiring an additional 4,311 shares during the last quarter. Finally, Bruderman Asset Management LLC purchased a new stake in American Superconductor during the fourth quarter valued at $25,000. Institutional investors own 29.22% of the company’s stock.

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About American Superconductor (NASDAQ:AMSC)

American Superconductor Corporation provides megawatt-scale 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. It supplies power electronics and software-based control systems, and provides customer support services to wind turbine manufacturers.

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