American Superconductor Co. (NASDAQ:AMSC) Short Interest Update

American Superconductor Co. (NASDAQ:AMSC) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 2,600,000 shares, a decline of 14.5% from the August 15th total of 3,040,000 shares. Based on an average daily trading volume, of 2,640,000 shares, the days-to-cover ratio is presently 1.0 days.

Insiders Place Their Bets

In other American Superconductor news, CEO Daniel P. Mcgahn sold 36,902 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $5.95, for a total value of $219,566.90. Following the transaction, the chief executive officer now owns 1,077,680 shares in the company, valued at approximately $6,412,196. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO John W. Kosiba, Jr. sold 50,132 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $6.15, for a total value of $308,311.80. Following the completion of the sale, the chief financial officer now owns 407,014 shares of the company’s stock, valued at approximately $2,503,136.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel P. Mcgahn sold 36,902 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $5.95, for a total transaction of $219,566.90. Following the completion of the sale, the chief executive officer now directly owns 1,077,680 shares of the company’s stock, valued at approximately $6,412,196. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AMSC. Dark Forest Capital Management LP bought a new position in American Superconductor in the 4th quarter worth about $27,000. Osaic Holdings Inc. grew its position in American Superconductor by 32.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,654 shares of the technology company’s stock worth $29,000 after purchasing an additional 1,129 shares during the last quarter. UBS Group AG grew its position in American Superconductor by 28.6% in the 4th quarter. UBS Group AG now owns 10,986 shares of the technology company’s stock worth $40,000 after purchasing an additional 2,445 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in American Superconductor in the 1st quarter worth about $61,000. Finally, LPL Financial LLC bought a new position in American Superconductor in the 2nd quarter worth about $65,000. Institutional investors own 43.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of American Superconductor in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Craig Hallum boosted their price objective on shares of American Superconductor from $8.00 to $9.00 in a research report on Friday, June 2nd. Finally, Roth Mkm boosted their price objective on shares of American Superconductor from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, August 14th.

American Superconductor Stock Up 1.4 %

Shares of NASDAQ:AMSC opened at $7.72 on Friday. American Superconductor has a fifty-two week low of $3.20 and a fifty-two week high of $17.37. The firm has a 50-day simple moving average of $8.64 and a 200 day simple moving average of $6.22. The company has a market cap of $233.80 million, a PE ratio of -6.83 and a beta of 1.56.

American Superconductor (NASDAQ:AMSC) last posted its earnings results on Wednesday, August 9th. The technology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.08. American Superconductor had a negative net margin of 27.94% and a negative return on equity of 34.15%. The firm had revenue of $30.25 million during the quarter, compared to analysts’ expectations of $27.75 million. As a group, research analysts forecast that American Superconductor will post -0.5 EPS 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 in two segments, Grid and Wind. 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; and engineering planning services.