Daniel P. Mcgahn Sells 100,848 Shares of American Superconductor Corporation (NASDAQ:AMSC) Stock

American Superconductor Corporation (NASDAQ:AMSC) CEO Daniel P. Mcgahn sold 100,848 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $54.49, for a total transaction of $5,495,207.52. Following the completion of the transaction, the chief executive officer directly owned 1,183,134 shares in the company, valued at $64,468,971.66. This trade represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

American Superconductor Stock Performance

Shares of AMSC stock opened at $54.87 on Thursday. The stock’s 50 day simple moving average is $37.58 and its 200 day simple moving average is $27.85. American Superconductor Corporation has a twelve month low of $13.98 and a twelve month high of $58.42. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 140.70 and a beta of 2.95.

American Superconductor (NASDAQ:AMSC) last released 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. The firm had revenue of $66.66 million during the quarter, compared to analyst estimates of $60.27 million. American Superconductor had a net margin of 6.00% and a return on equity of 9.35%. The company’s quarterly revenue was up 58.6% on a year-over-year basis. On average, analysts forecast that American Superconductor Corporation will post 0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On American Superconductor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sowell Financial Services LLC raised its holdings in shares of American Superconductor by 9.2% in the 1st quarter. Sowell Financial Services LLC now owns 16,459 shares of the technology company’s stock worth $299,000 after buying an additional 1,384 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of American Superconductor by 12.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 37,723 shares of the technology company’s stock worth $684,000 after acquiring an additional 4,259 shares in the last quarter. SG Americas Securities LLC increased its holdings in American Superconductor by 104.8% during the 1st quarter. SG Americas Securities LLC now owns 15,839 shares of the technology company’s stock valued at $287,000 after purchasing an additional 8,105 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of American Superconductor by 43.8% in the fourth quarter. Deutsche Bank AG now owns 32,913 shares of the technology company’s stock valued at $811,000 after buying an additional 10,029 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in American Superconductor by 8.9% during the 4th quarter. Northern Trust Corp now owns 327,805 shares of the technology company’s stock worth $8,074,000 after acquiring an additional 26,819 shares during the last quarter. Institutional investors and hedge funds own 52.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AMSC shares. Wall Street Zen upgraded American Superconductor from a “hold” rating to a “buy” rating in a report on Tuesday, July 15th. Oppenheimer restated an “outperform” rating on shares of American Superconductor in a report on Thursday, July 31st.

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.