American Superconductor (NASDAQ:AMSC) Shares Gap Down – Here’s What Happened

Shares of American Superconductor Co. (NASDAQ:AMSC) gapped down before the market opened on Friday . The stock had previously closed at $34.24, but opened at $31.47. American Superconductor shares last traded at $34.93, with a volume of 921,496 shares traded.

Wall Street Analyst Weigh In

Separately, Oppenheimer upped their price objective on shares of American Superconductor from $33.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday.

American Superconductor Trading Up 0.6 %

The stock has a fifty day moving average price of $27.67 and a 200 day moving average price of $25.51. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -687.24 and a beta of 2.26.

American Superconductor (NASDAQ:AMSC) last released its earnings results on Wednesday, February 5th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. American Superconductor had a positive return on equity of 8.29% and a negative net margin of 0.49%. On average, sell-side analysts forecast that American Superconductor Co. will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMSC. CWM LLC bought a new position in shares of American Superconductor in the third quarter valued at about $57,000. SBI Securities Co. Ltd. bought a new position in shares of American Superconductor in the fourth quarter worth $65,000. Jones Financial Companies Lllp grew its stake in American Superconductor by 1,083.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,958 shares of the technology company’s stock worth $73,000 after buying an additional 2,708 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of American Superconductor by 8,670.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,982 shares of the technology company’s stock worth $73,000 after acquiring an additional 2,948 shares during the period. Finally, Quest Partners LLC bought a new position in American Superconductor in the third quarter valued at approximately $88,000. 52.28% of the stock is owned by institutional investors and hedge funds.

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.