Investors Purchase High Volume of Put Options on American Superconductor (NASDAQ:AMSC)

American Superconductor Co. (NASDAQ:AMSC) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 4,049 put options on the stock. This represents an increase of approximately 153% compared to the average volume of 1,602 put options.

Insiders Place Their Bets

In related news, CEO Daniel P. Mcgahn sold 122,655 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $26.39, for a total value of $3,236,865.45. Following the completion of the transaction, the chief executive officer now owns 1,304,486 shares in the company, valued at $34,425,385.54. This trade represents a 8.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of American Superconductor stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $31.83, for a total value of $151,001.52. Following the completion of the transaction, the chief financial officer now directly owns 409,532 shares in the company, valued at $13,035,403.56. This represents a 1.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,088 shares of company stock worth $4,952,531. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On American Superconductor

Hedge funds have recently bought and sold shares of the business. Arizona State Retirement System grew its position in American Superconductor by 4.1% during the fourth quarter. Arizona State Retirement System now owns 11,092 shares of the technology company’s stock valued at $273,000 after purchasing an additional 439 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of American Superconductor by 4.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 12,475 shares of the technology company’s stock worth $307,000 after purchasing an additional 500 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of American Superconductor by 1.2% during the 4th quarter. Rhumbline Advisers now owns 51,119 shares of the technology company’s stock valued at $1,259,000 after buying an additional 606 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of American Superconductor by 2.0% in the 4th quarter. California State Teachers Retirement System now owns 35,559 shares of the technology company’s stock valued at $876,000 after buying an additional 709 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of American Superconductor by 1.9% in the 1st quarter. Sei Investments Co. now owns 53,070 shares of the technology company’s stock valued at $963,000 after buying an additional 964 shares in the last quarter. 52.28% of the stock is owned by hedge funds and other institutional investors.

American Superconductor Stock Down 14.9%

Shares of American Superconductor stock traded down $5.12 during trading on Wednesday, hitting $29.33. The stock had a trading volume of 3,492,564 shares, compared to its average volume of 1,128,419. American Superconductor has a 1 year low of $13.98 and a 1 year high of $38.02. The stock has a 50 day simple moving average of $22.59 and a 200 day simple moving average of $24.76. The company has a market capitalization of $1.16 billion, a PE ratio of 416.89 and a beta of 2.87.

American Superconductor (NASDAQ:AMSC) last announced its earnings results on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $66.66 million for the quarter, compared to the consensus estimate of $60.27 million. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. American Superconductor’s revenue for the quarter was up 58.6% on a year-over-year basis. As a group, equities analysts expect that American Superconductor will post 0.41 earnings per share for the current fiscal year.

American Superconductor Company Profile

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.