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

American Superconductor Co. (NASDAQ:AMSC) shares traded down 5.2% on Thursday . The company 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AMSC shares. Craig Hallum reaffirmed a “buy” rating and set a $33.00 price objective on shares of American Superconductor in a research report on Tuesday, September 10th. Roth Mkm reissued a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a report on Monday, September 30th.

American Superconductor Trading Down 15.5 %

The stock has a 50 day moving average of $24.34 and a 200-day moving average of $22.23. The company has a market capitalization of $1.22 billion, a P/E ratio of -663.27 and a beta of 2.14.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank bought a new position in American Superconductor in the 2nd quarter worth approximately $28,000. nVerses Capital LLC bought a new position in American Superconductor in the 2nd quarter worth approximately $42,000. CWM LLC bought a new position in American Superconductor in the 3rd quarter worth approximately $57,000. Quest Partners LLC bought a new position in American Superconductor in the 3rd quarter worth approximately $88,000. Finally, Canada Pension Plan Investment Board bought a new position in American Superconductor in the 2nd quarter worth approximately $96,000. 52.28% of the stock is currently 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 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.