American Superconductor (NASDAQ:AMSC) Trading Down 11.1% – Here’s What Happened

American Superconductor Co. (NASDAQ:AMSC) shares traded down 11.1% during trading on Thursday . The company traded as low as $28.33 and last traded at $27.95. 527,575 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 1,181,543 shares. The stock had previously closed at $31.45.

Analyst Ratings Changes

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

American Superconductor Price Performance

The stock has a 50 day moving average price of $27.68 and a 200-day moving average price of $26.00. The stock has a market capitalization of $1.01 billion, a P/E ratio of 367.20 and a beta of 2.26.

American Superconductor (NASDAQ:AMSC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.09 earnings per share (EPS) 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%. Research analysts predict that American Superconductor Co. will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Driehaus Capital Management LLC grew its stake in shares of American Superconductor by 18.0% during the fourth quarter. Driehaus Capital Management LLC now owns 942,698 shares of the technology company’s stock valued at $23,219,000 after buying an additional 143,936 shares during the last quarter. State Street Corp boosted its holdings in shares of American Superconductor by 18.3% during the third quarter. State Street Corp now owns 906,250 shares of the technology company’s stock worth $21,388,000 after purchasing an additional 140,106 shares during the period. Geode Capital Management LLC boosted its holdings in shares of American Superconductor by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 856,455 shares of the technology company’s stock worth $21,099,000 after purchasing an additional 9,043 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of American Superconductor by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 654,299 shares of the technology company’s stock worth $16,117,000 after purchasing an additional 46,354 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of American Superconductor during the fourth quarter worth about $11,360,000. 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.