American Superconductor (NASDAQ:AMSC) Stock Price Down 4.4% - Here's What Happened

American Superconductor Co. (NASDAQ:AMSC - Get Free Report) shares were down 4.4% during mid-day trading on Monday . The company traded as low as $23.25 and last traded at $23.82. Approximately 146,755 shares were traded during trading, a decline of 85% from the average daily volume of 985,379 shares. The stock had previously closed at $24.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMSC shares. Craig Hallum reaffirmed a "buy" rating and set a $33.00 price objective on shares of American Superconductor in a report on Tuesday, September 10th. Roth Mkm reaffirmed a "buy" rating and set a $29.00 price objective on shares of American Superconductor in a report on Monday, September 30th.

American Superconductor Trading Down 4.3 %

The stock has a market capitalization of $882.40 million, a P/E ratio of -61.15 and a beta of 2.14. The business has a 50-day moving average price of $21.83 and a 200 day moving average price of $20.44.

American Superconductor (NASDAQ:AMSC - Get Free Report) last posted its earnings results on Tuesday, August 6th. The technology company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.09. The firm had revenue of $40.29 million during the quarter, compared to the consensus estimate of $39.55 million. American Superconductor had a positive return on equity of 1.15% and a negative net margin of 5.29%. On average, sell-side analysts predict that American Superconductor Co. will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AWM Investment Company Inc. boosted its position in shares of American Superconductor by 19.4% during the 1st quarter. AWM Investment Company Inc. now owns 2,661,319 shares of the technology company's stock valued at $35,954,000 after acquiring an additional 433,018 shares during the last quarter. Baillie Gifford & Co. lifted its position in American Superconductor by 21.1% in the first quarter. Baillie Gifford & Co. now owns 2,526,550 shares of the technology company's stock worth $34,134,000 after buying an additional 440,271 shares during the last quarter. Hood River Capital Management LLC lifted its position in American Superconductor by 7.2% in the second quarter. Hood River Capital Management LLC now owns 1,735,014 shares of the technology company's stock worth $40,582,000 after buying an additional 116,207 shares during the last quarter. Vanguard Group Inc. lifted its position in American Superconductor by 30.5% in the first quarter. Vanguard Group Inc. now owns 1,698,934 shares of the technology company's stock worth $22,953,000 after buying an additional 396,814 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in American Superconductor by 643.4% in the second quarter. Assenagon Asset Management S.A. now owns 1,057,064 shares of the technology company's stock worth $24,725,000 after buying an additional 914,872 shares during the last quarter. 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.