American Superconductor (NASDAQ:AMSC) Shares Gap Up After Analyst Upgrade

American Superconductor Co. (NASDAQ:AMSCGet Free Report)’s share price gapped up prior to trading on Friday after Oppenheimer raised their price target on the stock from $16.00 to $23.00. The stock had previously closed at $17.44, but opened at $17.98. Oppenheimer currently has an outperform rating on the stock. American Superconductor shares last traded at $18.80, with a volume of 298,268 shares traded.

Several other analysts have also recently commented on AMSC. Roth Mkm lifted their price objective on shares of American Superconductor from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday. Craig Hallum boosted their target price on shares of American Superconductor from $16.00 to $23.00 and gave the company a “buy” rating in a research note on Friday.

View Our Latest Report on American Superconductor

Insider Buying and Selling

In related news, CEO Daniel P. Mcgahn sold 20,559 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total value of $304,684.38. Following the completion of the sale, the chief executive officer now owns 1,057,121 shares of the company’s stock, valued at approximately $15,666,533.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Daniel P. Mcgahn sold 20,559 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $304,684.38. Following the completion of the sale, the chief executive officer now directly owns 1,057,121 shares in the company, valued at $15,666,533.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John W. Kosiba, Jr. sold 29,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $429,780.00. Following the completion of the transaction, the chief financial officer now directly owns 348,136 shares of the company’s stock, valued at approximately $5,159,375.52. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMSC. Hood River Capital Management LLC purchased a new position in American Superconductor in the first quarter worth approximately $21,870,000. Essex Investment Management Co. LLC acquired a new stake in American Superconductor during the third quarter worth approximately $5,291,000. Baillie Gifford & Co. increased its holdings in shares of American Superconductor by 39.9% in the 4th quarter. Baillie Gifford & Co. now owns 2,086,279 shares of the technology company’s stock valued at $23,241,000 after acquiring an additional 594,909 shares during the period. AWM Investment Company Inc. increased its holdings in shares of American Superconductor by 19.4% in the 1st quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company’s stock valued at $35,954,000 after acquiring an additional 433,018 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of American Superconductor by 30.5% in the 1st quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company’s stock valued at $22,953,000 after acquiring an additional 396,814 shares during the period. Hedge funds and other institutional investors own 52.28% of the company’s stock.

American Superconductor Stock Performance

The business’s 50-day moving average is $13.58 and its two-hundred day moving average is $12.22. The stock has a market capitalization of $589.59 million, a PE ratio of -49.18 and a beta of 1.97.

American Superconductor Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for American Superconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Superconductor and related companies with MarketBeat.com's FREE daily email newsletter.