American Superconductor (NASDAQ:AMSC) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of American Superconductor (NASDAQ:AMSC) from a buy rating to a hold rating in a research note released on Saturday morning.

American Superconductor Stock Performance

Shares of AMSC stock opened at $32.42 on Friday. The stock’s 50 day simple moving average is $24.93 and its 200 day simple moving average is $24.49. American Superconductor has a twelve month low of $13.98 and a twelve month high of $38.02. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 216.13 and a beta of 2.87.

American Superconductor (NASDAQ:AMSC) last issued its quarterly earnings data on Wednesday, May 21st. The technology company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. American Superconductor had a return on equity of 8.89% and a net margin of 2.71%. The business had revenue of $66.66 million for the quarter, compared to the consensus estimate of $60.27 million. The firm’s revenue was up 58.6% compared to the same quarter last year. On average, analysts forecast that American Superconductor will post 0.41 EPS for the current fiscal year.

Insider Activity at American Superconductor

In related news, CEO Daniel P. Mcgahn sold 122,655 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $26.39, for a total value of $3,236,865.45. Following the transaction, the chief executive officer now directly owns 1,304,486 shares of the company’s stock, valued at approximately $34,425,385.54. This trade represents a 8.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John W. Kosiba, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $26.40, for a total value of $1,320,000.00. Following the completion of the sale, the chief financial officer now directly owns 414,276 shares in the company, valued at $10,936,886.40. This trade represents a 10.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,088 shares of company stock valued at $4,952,531. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of American Superconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMSC. Atreides Management LP acquired a new stake in American Superconductor in the 1st quarter valued at approximately $14,948,000. Nuveen LLC acquired a new stake in American Superconductor in the 1st quarter valued at approximately $14,123,000. Wellington Management Group LLP acquired a new stake in American Superconductor in the 4th quarter valued at approximately $11,360,000. Raymond James Financial Inc. acquired a new stake in American Superconductor in the 4th quarter valued at approximately $10,188,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in American Superconductor in the 4th quarter valued at approximately $7,310,000. Institutional investors and hedge funds own 52.28% of the company’s stock.

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.