American Superconductor (NASDAQ:AMSC) Stock Price Down 10.8% – What’s Next?

American Superconductor Corporation (NASDAQ:AMSC) dropped 10.8% during trading on Tuesday . The stock traded as low as $52.70 and last traded at $52.3890. Approximately 533,867 shares changed hands during trading, a decline of 54% from the average daily volume of 1,153,898 shares. The stock had previously closed at $58.72.

Analysts Set New Price Targets

Several analysts have weighed in on AMSC shares. Wall Street Zen downgraded American Superconductor from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings raised American Superconductor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Zacks Research downgraded American Superconductor from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

American Superconductor Stock Performance

The business has a fifty day simple moving average of $37.63 and a two-hundred day simple moving average of $35.95. The company has a quick ratio of 1.80, a current ratio of 2.66 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.58 billion, a P/E ratio of 18.47 and a beta of 3.28.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in shares of American Superconductor by 3.6% in the third quarter. Arizona State Retirement System now owns 12,883 shares of the technology company’s stock worth $765,000 after buying an additional 442 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of American Superconductor by 45.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,563 shares of the technology company’s stock worth $45,000 after buying an additional 492 shares during the period. Stephens Inc. AR raised its stake in shares of American Superconductor by 6.3% in the third quarter. Stephens Inc. AR now owns 8,500 shares of the technology company’s stock worth $505,000 after buying an additional 500 shares during the period. PNC Financial Services Group Inc. raised its stake in American Superconductor by 13.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,542 shares of the technology company’s stock valued at $270,000 after purchasing an additional 542 shares during the period. Finally, Palisades Investment Partners LLC raised its stake in American Superconductor by 0.4% during the 3rd quarter. Palisades Investment Partners LLC now owns 141,109 shares of the technology company’s stock valued at $8,380,000 after purchasing an additional 611 shares during the period. Institutional investors own 52.28% of the company’s stock.

About American Superconductor

American Superconductor Corporation (NASDAQ:AMSC) is a technology company specializing in power electronics and high-temperature superconductor systems. Founded in 1987 and headquartered in Devens, Massachusetts, AMSC develops hardware and software solutions aimed at improving the efficiency, reliability and stability of electric power systems and renewable energy infrastructure. The company’s engineering expertise spans from the lab scale to full commercial deployment, with a focus on tackling grid integration challenges for utilities and independent power producers.

AMSC’s portfolio includes superconducting wire and cryogenic systems, power grid stabilization devices, and turnkey wind turbine electronics.