American Superconductor (NASDAQ:AMSC) Stock Price Up 3.1% After Analyst Upgrade

American Superconductor Co. (NASDAQ:AMSC)’s share price rose 3.1% during mid-day trading on Friday after Roth Mkm raised their price target on the stock from $20.00 to $27.00. Roth Mkm currently has a buy rating on the stock. American Superconductor traded as high as $27.38 and last traded at $27.16. Approximately 177,784 shares were traded during trading, a decline of 79% from the average daily volume of 851,554 shares. The stock had previously closed at $26.34.

A number of other analysts have also recently commented on the stock. Craig Hallum boosted their target price on shares of American Superconductor from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Oppenheimer boosted their price target on shares of American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st.

Insider Buying and Selling at American Superconductor

In other American Superconductor news, CEO Daniel P. Mcgahn sold 37,165 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total value of $806,108.85. Following the transaction, the chief executive officer now directly owns 1,019,956 shares in the company, valued at approximately $22,122,845.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Daniel P. Mcgahn sold 20,559 shares of the company’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 value of $304,684.38. Following the transaction, the chief executive officer now directly owns 1,057,121 shares in the company, valued at approximately $15,666,533.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel P. Mcgahn sold 37,165 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $21.69, for a total transaction of $806,108.85. Following the sale, the chief executive officer now directly owns 1,019,956 shares in the company, valued at $22,122,845.64. The disclosure for this sale can be found here. Insiders have sold 118,724 shares of company stock worth $2,234,333 in the last ninety days. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On American Superconductor

Several large investors have recently added to or reduced their stakes in AMSC. Virtu Financial LLC purchased a new stake in shares of American Superconductor in the 1st quarter valued at approximately $152,000. AWM Investment Company Inc. increased its position 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 purchasing an additional 433,018 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in shares of American Superconductor in the 1st quarter valued at approximately $21,870,000. Quadrature Capital Ltd purchased a new stake in shares of American Superconductor in the 1st quarter valued at approximately $203,000. Finally, CM Management LLC increased its position in shares of American Superconductor by 28.2% in the 1st quarter. CM Management LLC now owns 250,000 shares of the technology company’s stock valued at $3,378,000 after purchasing an additional 55,000 shares during the last quarter. 52.28% of the stock is owned by hedge funds and other institutional investors.

American Superconductor Stock Performance

The stock’s 50-day simple moving average is $15.48 and its 200 day simple moving average is $13.19. The company has a market capitalization of $958.91 million, a PE ratio of -66.46 and a beta of 2.08.

About American Superconductor

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.