American Superconductor (NASDAQ:AMSC) Stock Price Down 6.1% - What's Next?

American Superconductor Co. (NASDAQ:AMSC - Get Free Report) traded down 6.1% during mid-day trading on Friday . The stock traded as low as $32.71 and last traded at $32.76. 936,254 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 1,057,142 shares. The stock had previously closed at $34.89.

Analysts Set New Price Targets

Several brokerages have commented on AMSC. Roth Mkm reissued a "buy" rating and issued a $29.00 price target on shares of American Superconductor in a report on Monday, September 30th. Craig Hallum restated a "buy" rating and set a $33.00 target price on shares of American Superconductor in a research report on Tuesday, September 10th.

American Superconductor Trading Down 10.6 %

The stock's fifty day moving average price is $28.14 and its 200 day moving average price is $24.51. The stock has a market cap of $1.23 billion, a P/E ratio of -623.88 and a beta of 2.21.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new stake in shares of American Superconductor in the 2nd quarter worth approximately $28,000. nVerses Capital LLC bought a new stake in American Superconductor in the second quarter worth $42,000. CWM LLC purchased a new stake in American Superconductor during the third quarter valued at about $57,000. Quest Partners LLC bought a new position in shares of American Superconductor during the third quarter valued at about $88,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of American Superconductor in the second quarter worth about $96,000. 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.