American Superconductor (NASDAQ:AMSC) Shares Down 9.5% – What’s Next?

American Superconductor Co. (NASDAQ:AMSC)’s stock price dropped 9.5% during mid-day trading on Monday . The company traded as low as $17.56 and last traded at $17.43. Approximately 176,453 shares traded hands during trading, a decline of 83% from the average daily volume of 1,054,300 shares. The stock had previously closed at $19.25.

Analyst Upgrades and Downgrades

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

American Superconductor Stock Performance

The company has a market cap of $679.94 million, a P/E ratio of 246.28 and a beta of 2.45. The stock’s fifty day moving average price is $26.88 and its two-hundred day moving average price is $26.13.

American Superconductor (NASDAQ:AMSC) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. American Superconductor had a return on equity of 8.95% and a net margin of 1.64%. On average, equities research analysts forecast that American Superconductor Co. will post 0.41 EPS for the current year.

Institutional Investors Weigh In On American Superconductor

Several hedge funds and other institutional investors have recently made changes to their positions in AMSC. Heck Capital Advisors LLC bought a new position in shares of American Superconductor in the 4th quarter valued at $279,000. Palisades Investment Partners LLC grew its stake in American Superconductor by 9.5% during the fourth quarter. Palisades Investment Partners LLC now owns 142,415 shares of the technology company’s stock worth $3,507,000 after purchasing an additional 12,317 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of American Superconductor by 21.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,274 shares of the technology company’s stock valued at $1,805,000 after acquiring an additional 12,942 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of American Superconductor by 18.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,306 shares of the technology company’s stock worth $549,000 after purchasing an additional 3,506 shares in the last quarter. Finally, Gen Wealth Partners Inc acquired a new stake in shares of American Superconductor in the 4th quarter valued at about $58,000. 52.28% of the stock is owned by institutional investors.

About American Superconductor

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.