American Superconductor (NASDAQ:AMSC) Stock Price Down 5.2% – Here’s What Happened

American Superconductor Co. (NASDAQ:AMSC) traded down 5.2% on Thursday . The stock traded as low as $34.50 and last traded at $34.74. 140,440 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,031,724 shares. The stock had previously closed at $36.65.

Wall Street Analysts Forecast Growth

AMSC has been the subject of several research reports. Roth Mkm reiterated a “buy” rating and set a $29.00 price target on shares of American Superconductor in a research report on Monday, September 30th. Craig Hallum reaffirmed a “buy” rating and set a $33.00 target price on shares of American Superconductor in a report on Tuesday, September 10th.

American Superconductor Price Performance

The company has a market cap of $1.19 billion, a price-to-earnings ratio of -601.48 and a beta of 2.14. The stock has a 50 day simple moving average of $24.84 and a two-hundred day simple moving average of $22.42.

Institutional Investors Weigh In On American Superconductor

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new stake in shares of American Superconductor in the 2nd quarter valued at approximately $28,000. nVerses Capital LLC acquired a new stake in American Superconductor during the second quarter worth $42,000. CWM LLC acquired a new position in shares of American Superconductor in the 3rd quarter valued at $57,000. Quest Partners LLC purchased a new position in shares of American Superconductor during the 3rd quarter worth $88,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of American Superconductor during the 2nd quarter worth about $96,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

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.