Insider Selling: American Superconductor Co. (NASDAQ:AMSC) CEO Sells 7,689 Shares of Stock

American Superconductor Co. (NASDAQ:AMSC) CEO Daniel P. Mcgahn sold 7,689 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $31.82, for a total transaction of $244,663.98. Following the completion of the sale, the chief executive officer now directly owns 1,296,797 shares of the company’s stock, valued at $41,264,080.54. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

American Superconductor Price Performance

AMSC opened at $29.67 on Thursday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 423.92 and a beta of 2.87. American Superconductor Co. has a 1 year low of $13.98 and a 1 year high of $38.02. The stock’s 50 day simple moving average is $22.87 and its 200 day simple moving average is $24.80.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in shares of 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. increased its holdings in American Superconductor by 4.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 12,475 shares of the technology company’s stock worth $307,000 after buying an additional 500 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of American Superconductor by 1.2% during the fourth quarter. Rhumbline Advisers now owns 51,119 shares of the technology company’s stock valued at $1,259,000 after purchasing an additional 606 shares during the last quarter. California State Teachers Retirement System raised its stake in American Superconductor by 2.0% during 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 during the last quarter. Finally, Sei Investments Co. increased its position in American Superconductor by 1.9% during the first quarter. Sei Investments Co. now owns 53,070 shares of the technology company’s stock valued at $963,000 after acquiring an additional 964 shares during the last quarter. 52.28% of the stock is owned by hedge funds and other institutional investors.

About American Superconductor

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.