Short Interest in American Superconductor Corporation (NASDAQ:AMSC) Drops By 23.3%

American Superconductor Corporation (NASDAQ:AMSC) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 2,370,000 shares, adecreaseof23.3% from the July 15th total of 3,090,000 shares. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is presently 1.9 days. Approximately5.5% of the company’s stock are short sold. Approximately5.5% of the company’s stock are short sold. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is presently 1.9 days.

Insiders Place Their Bets

In other American Superconductor news, Director Arthur H. House sold 9,703 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $50.92, for a total value of $494,076.76. Following the completion of the sale, the director directly owned 48,663 shares of the company’s stock, valued at approximately $2,477,919.96. This represents a 16.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Daniel P. Mcgahn sold 100,848 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 1,183,134 shares of the company’s stock, valued at $64,468,971.66. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 295,639 shares of company stock valued at $10,941,815. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sowell Financial Services LLC boosted its holdings in 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 during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in 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 buying an additional 4,259 shares during the period. SG Americas Securities LLC boosted its holdings in American Superconductor by 104.8% in the 1st quarter. SG Americas Securities LLC now owns 15,839 shares of the technology company’s stock worth $287,000 after buying an additional 8,105 shares during the period. Deutsche Bank AG boosted its holdings in American Superconductor by 43.8% in the 4th quarter. Deutsche Bank AG now owns 32,913 shares of the technology company’s stock worth $811,000 after buying an additional 10,029 shares during the period. Finally, Northern Trust Corp boosted its holdings in American Superconductor by 8.9% in the 4th quarter. Northern Trust Corp now owns 327,805 shares of the technology company’s stock worth $8,074,000 after buying an additional 26,819 shares during the period. 52.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMSC has been the topic of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating on shares of American Superconductor in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of American Superconductor from a “hold” rating to a “buy” rating in a research note on Tuesday, July 15th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $33.67.

American Superconductor Stock Down 1.5%

AMSC opened at $48.11 on Thursday. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 123.36 and a beta of 2.95. American Superconductor has a twelve month low of $13.98 and a twelve month high of $58.42. The company’s 50-day moving average price is $42.45 and its two-hundred day moving average price is $29.74.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $66.66 million during the quarter, compared to the consensus estimate of $60.27 million. American Superconductor had a net margin of 6.00% and a return on equity of 9.35%. The firm’s revenue for the quarter was up 58.6% on a year-over-year basis. As a group, sell-side analysts anticipate that American Superconductor will post 0.41 earnings per share for the current 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.