American Superconductor (NASDAQ:AMSC) Shares Down 11.1% – What’s Next?

Shares of American Superconductor Co. (NASDAQ:AMSC) traded down 11.1% during mid-day trading on Thursday . The company traded as low as $28.33 and last traded at $27.95. 527,575 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 1,181,543 shares. The stock had previously closed at $31.45.

Analysts Set New Price Targets

Separately, Oppenheimer raised their price target on shares of American Superconductor from $33.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, February 7th.

American Superconductor Stock Down 8.1 %

The business has a 50-day simple moving average of $27.64 and a two-hundred day simple moving average of $25.94. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 412.83 and a beta of 2.26.

American Superconductor (NASDAQ:AMSC) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. American Superconductor had a net margin of 1.64% and a return on equity of 8.95%. On average, analysts forecast that American Superconductor Co. will post 0.41 EPS for the current year.

Institutional Trading of American Superconductor

A number of hedge funds have recently bought and sold shares of AMSC. Arizona State Retirement System raised its holdings in shares of American Superconductor by 4.1% in the 4th quarter. Arizona State Retirement System now owns 11,092 shares of the technology company’s stock worth $273,000 after buying an additional 439 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of American Superconductor by 4.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 12,475 shares of the technology company’s stock valued at $307,000 after buying an additional 500 shares during the period. Rhumbline Advisers raised its position in American Superconductor by 1.2% in the 4th quarter. Rhumbline Advisers now owns 51,119 shares of the technology company’s stock valued at $1,259,000 after buying an additional 606 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in American Superconductor by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 183,800 shares of the technology company’s stock worth $4,527,000 after acquiring an additional 1,150 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of American Superconductor by 7.2% during the 4th quarter. MetLife Investment Management LLC now owns 21,201 shares of the technology company’s stock worth $522,000 after acquiring an additional 1,415 shares in the last quarter. 52.28% of the stock is owned by institutional investors.

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.