American Superconductor (NASDAQ:AMSC) Trading 5.9% Higher Following Analyst Upgrade

American Superconductor Co. (NASDAQ:AMSCGet Free Report)’s share price was up 5.9% during mid-day trading on Monday after Oppenheimer raised their price target on the stock from $16.00 to $23.00. Oppenheimer currently has an outperform rating on the stock. American Superconductor traded as high as $21.00 and last traded at $20.32. Approximately 1,063,061 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 819,798 shares. The stock had previously closed at $19.18.

Several other equities analysts have also recently issued reports on AMSC. Craig Hallum lifted their price objective on shares of American Superconductor from $16.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. Roth Mkm lifted their price target on shares of American Superconductor from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday.

View Our Latest Analysis on AMSC

Insider Activity

In other American Superconductor news, CFO John W. Kosiba, Jr. sold 29,000 shares of American Superconductor stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $14.82, for a total transaction of $429,780.00. Following the transaction, the chief financial officer now directly owns 348,136 shares in the company, valued at approximately $5,159,375.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO John W. Kosiba, Jr. sold 29,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total value of $429,780.00. Following the completion of the sale, the chief financial officer now directly owns 348,136 shares of the company’s stock, valued at approximately $5,159,375.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel P. Mcgahn sold 20,559 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $14.82, for a total value of $304,684.38. Following the sale, the chief executive officer now owns 1,057,121 shares of the company’s stock, valued at $15,666,533.22. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new stake in shares of American Superconductor during the 3rd quarter valued at $1,290,000. Barclays PLC raised its holdings in shares of American Superconductor by 640,100.0% during the third quarter. Barclays PLC now owns 25,608 shares of the technology company’s stock worth $193,000 after acquiring an additional 25,604 shares in the last quarter. Invesco Ltd. boosted its position in American Superconductor by 58.9% during the third quarter. Invesco Ltd. now owns 873,006 shares of the technology company’s stock valued at $6,591,000 after purchasing an additional 323,472 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in American Superconductor by 172.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,120 shares of the technology company’s stock valued at $922,000 after purchasing an additional 77,303 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in American Superconductor in the 3rd quarter worth about $5,291,000. 52.28% of the stock is owned by hedge funds and other institutional investors.

American Superconductor Stock Performance

The company has a market capitalization of $759.40 million, a PE ratio of -53.18 and a beta of 2.08. The stock has a 50 day moving average price of $13.58 and a two-hundred day moving average price of $12.26.

About American Superconductor

(Get Free Report)

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.

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