American Superconductor (NASDAQ:AMSC) Rating Lowered to Hold at Wall Street Zen

American Superconductor (NASDAQ:AMSC) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Monday.

American Superconductor Stock Performance

AMSC stock opened at $39.46 on Monday. The stock has a fifty day moving average of $28.19 and a 200-day moving average of $25.15. American Superconductor has a fifty-two week low of $13.98 and a fifty-two week high of $41.10. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 263.09 and a beta of 2.91.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 8.89% and a net margin of 2.71%. American Superconductor’s quarterly revenue was up 58.6% compared to the same quarter last year. Equities analysts predict that American Superconductor will post 0.41 EPS for the current year.

Insider Buying and Selling at American Superconductor

In related news, CEO Daniel P. Mcgahn sold 7,689 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $31.82, for a total value of $244,663.98. Following the completion of the transaction, the chief executive officer owned 1,296,797 shares of the company’s stock, valued at approximately $41,264,080.54. The trade was a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John W. Kosiba, Jr. sold 4,744 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $31.83, for a total value of $151,001.52. Following the transaction, the chief financial officer owned 409,532 shares in the company, valued at $13,035,403.56. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,088 shares of company stock valued at $4,952,531. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Superconductor

A number of institutional investors have recently bought and sold shares of AMSC. Atreides Management LP acquired a new position in American Superconductor during the first quarter worth about $14,948,000. Nuveen LLC purchased a new position in American Superconductor in the 1st quarter worth about $14,123,000. Wellington Management Group LLP purchased a new position in American Superconductor in the 4th quarter worth about $11,360,000. Raymond James Financial Inc. bought a new stake in shares of American Superconductor in the 4th quarter valued at about $10,188,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of American Superconductor in the 4th quarter valued at about $7,310,000. Hedge funds and other institutional investors own 52.28% of the company’s stock.

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.