American Superconductor (NASDAQ:AMSC) Trading Down 11.1% – Here’s What Happened

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

Analyst Ratings Changes

Separately, Oppenheimer increased their target price on American Superconductor from $33.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th.

American Superconductor Price Performance

The stock has a market cap of $1.01 billion, a P/E ratio of 367.20 and a beta of 2.26. The firm’s fifty day moving average price is $27.68 and its two-hundred day moving average price is $26.00.

American Superconductor (NASDAQ:AMSC) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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, research analysts expect that American Superconductor Co. will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Driehaus Capital Management LLC increased its holdings in shares of American Superconductor by 18.0% in the fourth quarter. Driehaus Capital Management LLC now owns 942,698 shares of the technology company’s stock worth $23,219,000 after purchasing an additional 143,936 shares during the period. State Street Corp increased its stake in American Superconductor by 18.3% in the third quarter. State Street Corp now owns 906,250 shares of the technology company’s stock valued at $21,388,000 after acquiring an additional 140,106 shares during the last quarter. Geode Capital Management LLC increased its stake in American Superconductor by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 856,455 shares of the technology company’s stock valued at $21,099,000 after acquiring an additional 9,043 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in American Superconductor by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 654,299 shares of the technology company’s stock valued at $16,117,000 after acquiring an additional 46,354 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in American Superconductor in the fourth quarter valued at $11,360,000. Institutional investors own 52.28% of the company’s stock.

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.