Roth Mkm Increases American Superconductor (NASDAQ:AMSC) Price Target to $29.00

American Superconductor (NASDAQ:AMSC) had its target price increased by analysts at Roth Mkm from $27.00 to $29.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Roth Mkm’s price target suggests a potential upside of 48.34% from the company’s previous close.

Separately, Oppenheimer raised their target price on shares of American Superconductor from $16.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, May 31st.

American Superconductor Stock Up 4.5 %

American Superconductor stock traded up $0.84 during midday trading on Thursday, hitting $19.55. 153,176 shares of the stock were exchanged, compared to its average volume of 981,472. The company has a fifty day simple moving average of $24.55 and a two-hundred day simple moving average of $17.15. American Superconductor has a 52 week low of $5.78 and a 52 week high of $32.70. The stock has a market capitalization of $723.31 million, a PE ratio of -50.13 and a beta of 2.17.

American Superconductor (NASDAQ:AMSC) last announced its earnings results on Wednesday, May 29th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. The firm had revenue of $42.03 million for the quarter, compared to the consensus estimate of $36.75 million. American Superconductor had a negative net margin of 7.63% and a negative return on equity of 4.26%. As a group, equities research analysts anticipate that American Superconductor will post -0.04 EPS for the current fiscal year.

Insider Activity

In other news, CEO Daniel P. Mcgahn sold 37,165 shares of American Superconductor stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO John W. Kosiba, Jr. sold 29,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total value of $429,780.00. Following the completion of the transaction, the chief financial officer now directly owns 348,136 shares of the company’s stock, valued at $5,159,375.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel P. Mcgahn sold 37,165 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $21.69, for a total transaction of $806,108.85. Following the completion of the transaction, the chief executive officer now directly owns 1,019,956 shares of the company’s stock, 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 over the last ninety days. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On American Superconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in American Superconductor during the second quarter worth $42,000. Atria Wealth Solutions Inc. boosted its position in American Superconductor by 18.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 14,469 shares of the technology company’s stock worth $161,000 after purchasing an additional 2,294 shares during the period. Psagot Value Holdings Ltd. Israel bought a new position in American Superconductor during the fourth quarter worth $33,000. Merit Financial Group LLC boosted its position in American Superconductor by 5.8% during the fourth quarter. Merit Financial Group LLC now owns 82,389 shares of the technology company’s stock worth $918,000 after purchasing an additional 4,490 shares during the period. Finally, AJOVista LLC bought a new position in American Superconductor during the fourth quarter worth $69,000. 52.28% of the stock is owned by institutional investors.

American Superconductor Company Profile

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.